Ewj: elliott wave

...you know that rising wedge on the daily that we referred to earlier ?

.... well i had trouble trading it because i had no experience with it.....
...but i found a chart from Feb 6, 2004 .....
it is a short time-frame chart....

... but the pattern matches almost exactly what unfolded on the daily from ES1518.75

... if i had had this chart ... i would have been much more comfortable trading it....

here it is......
 

Attachments

Short position opened at open as said. Set stop at the last low. Long position was closed at the second lower low.
Market is accelerating downward. Set target at 800,80,160 points lower than Tuesday high. But will take profit around 200,20,40 if there is a higher high.
 
Nice chart elovemer :)

Those ending diagonal's pop up all the time. Its one of the best patterns to learn due to the strong moves you get (on any time frame) once the ED is complete...:D
 
Position reversed near target 200,20,40 when there was a higher high as said and reversed again after 70,7,14 points rebound when there is a lower low. Set stop at the last high.
 
Status:
Short position stop out and long position re-entered.

Scenario 1: Recount the waves.
Minute Wave .2 had ended at around -820.3,-73.8,-135.86 below September high. Subminuette Wave i or Microwave .i-.v is was 273.9404, 28.88, 99.27 points long. Subminuette Wave ii or Microwave .á, .â and .ã was 212.5703, 29.47, 77.1099 points long.
Subminuette Wave iii is now 218.8301, 26.8101, 54.7801 points long and is going to be equal to or longer than Subminuette Wave i.
Strategy 1.
Hold on to the long position. Open short position when Subminuette Wave iii is equal to or longer than Subminuette Wave i when there is a lower low.

Scenario 2.
Minuette Wave .1:1 had ended at around -820.3,-73.8,-135.86 below September high. Monday - Tuesday Wave was Minuette Wave .1:2, had shown Subminuette Wave .1:2á, â and ã
and was 273.9404, 28.88, 99.27 points long.
Minuette Wave .1:2 may have ended at 13689.8799, 1517.0601, 2775.0801 or may end at 13744, 1519, 2819 when Subminuette Wave .1:2ã = Subminuette Wave .1:2á.
Strategy 2.
Open short position when when there is a lower low.
If futures point to a lower open, open short position at open.

Tomorrow may be a choppy session again. May be no post in the morning. Need concentration.
 
yes. it would have been nice to have already learned it... before that one on the daily occurred.

anyway... i hope i can get more in touch with the current wave count.... so i dont miss the next one when it occurs on a lower time frame

So you say they pop up all the time....
have you seen them much in places other than 5th wave of the 5th wave ?
?

i am under the impression that the one on the daily from 18.75 ES was ending the 5th wave of 5.

thanks
:)


Quote from Mup:
Nice chart elovemer :)
Those ending diagonal's pop up all the time.
Its one of the best patterns to learn due to the strong moves you get (on any time frame) once the ED is complete...:D
More...
 
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