Ewj: elliott wave

Well that lesser completed ED option has killed....Did Mu yesterday raise the point about that corrective move back up last night being classed as a wave 2 ? :)

Got the move down shown on last night chart as a (b) but its way to deep now...

Looks like a switch on to a 1,2 3 count of the 5th is inorder....

60min spx :)
 

Attachments

Another view on the 120min SPX...

This count is very popular at the moment with the bears....(Looks like a Prechter count )

I have a slight problem with length of the lesser wave ii .

In extentions, the corrective waves,( in this case the wave ii or (3) ..) should not be the same amplitude of the proceeding higher degree wave, ie the larger degree wave (2) in this case.

Corrections of the Same amplitude are for waves of the same degree...Hence a some sort of Corrective wave such as a flat wave 2 (of a leading diag) fits the rules of proportion far better than the 1,2,i,ii...

Anyway just personal view..
 

Attachments

Mup

Do you trade? If so, what do you trade?

How does your EWT work determine what you trade, how much of a market should you buy or sell at any time, how does EWT determine when you enter a trade, how does it determine when you exit a winning or losing trade?

Thanks.
:)
 
Hi TT1

I trade the ES intraday, the EW is a key part of the methods I use for helping with direction bias & controlled entry/exit points basied on the pervailing wave sets..

Like last night, the EW pointed to some sort of move down...We'd had a 3 wave move of the low with over lap so the natural label is always a (b) to start with..

However It turned out that the 3 wave move was indeed part of a larger w-x-y pattern of a wave 2 & we had a much greater decline of a wave 3...

Thats one of the problems we have to deal with from time to time with morphing patterns which makes some of us EW'ers "count to fast" & become a wave degree out..

Speaking of which..

Quick look at the Globex 120min...

I still keep seeing 3 wave moves on possable wave 5. :)
 

Attachments

Quote from Mup:

Well that lesser completed ED option has killed....Did Mu yesterday raise the point about that corrective move back up last night being classed as a wave 2 ? :)
More...

Yep, got to give credit where credit is due.
Mu called it yesterday!
:cool:
 
Hey Mup,

Time for a small "c" wave to complete yet another 3 wave move to the upside to complete a Wave 4?

Looks like the "a" wave off the lows was 8-9 points.

Adding that to 1325.46 might get us up towards the 50% retracement from the 3:00 PM highs of yesterday to the lows of this morning at 10 AM.
 
Looks like this market is even weaker than I thought . . .

Nearly 6 handles down off the intra-day high and then an EXTREMELY WEAK attempt at a bounce ( back up to 1329.39 ) only to give way to yet another 6 handles down.

This last leg down caused by S&P finally putting Ford, Chrysler, and GM on "Credit Watch".

Wow, where has Standard & Poors been all this time???

:confused:
 
Thanks Mup and Landis.
Because the Dow has retraced more than 61.8% of the UP MOVE from March 17, 2008, I begin to worry that the Dow may break March 17, 2008 low and the wave count might be Minor Wave IVc]1)3 and the UP MOVE from March 17 is Minor Wave IVc]1)2.
Mu.

Quote from Landis82:

Yep, got to give credit where credit is due.
Mu called it yesterday!
:cool:
More...
 
You must log in or register to reply here.
Back
Top