Ewj: elliott wave

Nice Chart Mup.:D

Status.
Short position covered as said after .25 rate cut announcement. Long position opened set stop at the last low. Set target at 200,20,25 points or wave v = wave i or iii.

Scenario 1:
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 had ended and Subminuette Wave v started with the .25 cut and might be 350,35,70 points long.
Strategy 1.
Keep long position. Sell short at target.

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 had not ended yet but is going into Microwave .1:2γ.v
Strategy 2.
Open short position when when Microwave c.2:cv.v ends around 200,20,40 points above Wednesday low.
 
EW tells what the Market can do (not will do). EW'ers do what the market tells. Futures point to a weak start, so close long position at open and open short position. Set stop at the last high. Set target at Wednesday low. Re-enter short if that level broken.

Quote from mu200411:10-31-07 06:20 PM


Scenario 2.
.25 cut the Market rebounds then tanks.
Strategy 2.
Cover short when there is a higher high. Wait for another opportunity to short.
More...
 
Just a thought on Ed's :)

Just to many people are seeing a Flat with this mornings down move, being the start of the C wave of the A-B-C flat.

It just seems a "to easy" count that always catches an old wavers attention, that all may not be as it seems...:D
 

Attachments

XOM results and Citi bank rumors...

And the fact the market did five waves up into the close were wave 5 = 78.6% of wave 1. :D
 
You must log in or register to reply here.
Back
Top