Ewj: elliott wave

[Mup]

Quote from mu200411
Subminuette wave iii might have ended as descending wedge as Mup said.

Wave iii Ending Diagonal's thats a can of worms

Elliott In his Financial World Articles says : " They can occur as either Wave 3 or wave 5 of the main movement."

While Prechter jumps in on a sub note saying : "This comment is almost assuredly unintentional. Diagonal Triangles never occur as wave three".

 

[Mup]

Market technical ?

Never

 

[Mup]

That 1473 area on the ES is a stand out Make or Break area..

If price goes above that area then we've changed degree & that Larger ED patter comes into play

 

[Mup]

Here's that Larger ED count...

You have to love Elliott Wave, especially when Ending Diagonal's patterns come together with fibonacci time counts..

 

[mu200411]

Thanks. Nice charts Mup.

Target reached. Thursday last high might be Microwave 4)c.1:3iii.iv and Subminuette Wave 4)c.1:3iv may end here.
But there is no lower low so hold long position.

The Subminuette Wave i,ii,iii may turn out to be Minuette Wave :a, :b, :c of Minute .2 of Minor Wave 5)1 of the Bullish count and the last up move may be the beginning of Minute .5)1.3

 

[elovemer]

... are you guys expecting to begin waves 3-5 now ?
... based on that last wave count ?

thanks

 

[mu200411]

elovemer,
There may or may not be wave v downward. It depends on the count.
See below.
Mu.

 

[mu200411]

Update chart for Subminuette Wave 4)c.1:3iii and iv. Again?
Scenario 1.
Minute 5)1.3 has begun and will be 2000,200,400 points long.
Strategy 1.
Keep long position till 15000, 1640, 3000. Sell short for 100, 10, 20 points profit when opportunity arrives.
Scenario 2.
Subminuette Wave 4)c.1:3iv may end soon and wave v may follow.
If Subminuette Wave v is equal to
(13669.4004, 1520.27, 2825.47) - (13080.8701, 1450.76, 2653.6201)
Subminuette Wave iii which is 588.5303, 69.51, 171.8499 points long,
Subminuette Wave v which might have begun at
13317.0098, 1481.37, 2672 will end at 12728.4795, 411.86, 2500.1501
Strategy 2.
Close long position and open short position when there is a lower low.

 

[mu200411]

August to November 2007 can be count as both Minor Wave 4)b-c or Minute Wave 5)1.1-.2 .

Intermediate Wave 4) may be a double zigzag or irregular flat correction. This count needs a new low and will be confirmed if Head and Shoulders pattern is confirmed.
Minor Wave 5)1.1 may has a wave :5 failure. This count needs no new low.

200 dSMA and 1490 are resistances, may need another rate cut to pass.

 

[mu200411]

Prepare to close long position and sell short when there is a lower low. Set stop at the last high.