Ewj: elliott wave

Long position closed. Short position opened. Set stop at the last high.
Not a good day for trading.:eek:

Edit:
Gold, Crude oil, EURO, YEN: all down.:cool: Cash is king. Should have bought nothing!
 
A weak wave c. Should go down another measured move of 250, 25, 50 points. Plan to reverse position at target. Will accept 1/2 to 1/3 of target if wave count is ok and there is a higher high.

Too many posts today. Will give summary later.

Edit:
Target at 13100.9492, 1435.0401, 2577.9101 still hold.
 
Status.
Short position closed at close at 1/2 of target length because of a descending wedge and the fifth wave.

Bullish Scenario 1.
Minute 5)1.1 is a wave five failure. Minute 5)1.2 ended as a descending wedge yesterday. Minute 5)1.3 will begin today.
Strategy 1.
Open long position when there is higher high.
 

Attachments

Sideways Scenario 2.
Because the supposed 5)1.3:2 fell below the beginning of 5)1.3:1 so it was invalid. The count has to be changed to a-b-c-x which may be components of 4)c.d of an expanding triangle.
Strategy 2.
Open long position when there is a higher high.
 

Attachments

Bearish Scenario 3.
Minuette 4)c.3:3 is ending as a descending wedge near target
13100.9492, 1435.0401, 2577.9101 . Minuette 4)c.3:4 will make a rebound of 200, 25, 40 points to below Minuette 4)c.3:1 end at 13367, 1470, 2642
Strategy 3.
Open long position when there is higher high. Set target as above.
 

Attachments

....thanks mup....
... until i get a better handle on counting.....
.... the ED's seem like something i can spot sometimes......
..... i know that is an incorrect approach... but..... :0)
.... also looking to get into price/volume analysis.... a la Tom Williams
Quote from Mup:
I know you like ED's elovemer :) )
So here's one on the weekly Euro (6E) chart.
Possable Extended 5th wave which is an ED
Completed Double Zig-Zag wave (i) so were in the wave (ii) at the moment.
More...
 
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