Ewj: elliott wave
- Thread starter mu200411
- Start date
Its been going pretty much to plan...
We had the IV wave over the hoildays and we're in the V now of the possable ED C wave..
We get a lot of time pressure coming in tomorrow which so its something to also consider. So we could bounce from here...That would catch a few people out..
page 166 is useful for a quick memory jog
http://www.elitetrader.com/vb/showthread.php?s=&threadid=101387&perpage=6&pagenumber=166
We had the IV wave over the hoildays and we're in the V now of the possable ED C wave..
We get a lot of time pressure coming in tomorrow which so its something to also consider. So we could bounce from here...That would catch a few people out..
page 166 is useful for a quick memory jog
http://www.elitetrader.com/vb/showthread.php?s=&threadid=101387&perpage=6&pagenumber=166
Exactly on track for the "C" Wave of a large ABC 4th wave correction that I spelled out earlier in this thread. Nice to see some here know there ABC's. 
Very possible flush of the weak hands here as we take out the August lows. That would setup the 5th wave to new, all-time highs and not what most are now considering possible.
Get your buying powder ready!
Very possible flush of the weak hands here as we take out the August lows. That would setup the 5th wave to new, all-time highs and not what most are now considering possible.
Get your buying powder ready!
Still carn't get your higher degree 5th Wave count, rtstrading I do agree though the bears have to be careful as we go into this time pressure window.
I don't use any indicators elovemer :eek: Just Price, Time and a hint of Volume for me.
If the counts not clear, I just go back to basic's of Alt Waves and Measured moves. The Alts help with degree, and the Measured moves help to show whether were' in a corrective or impulsive stage.
Changing time frames (ie Degree level) can also help narrow things down, I like to use the 60min and 120min to help with the higher frames.
As MarkBrown mischievously points out its also just as easy to leave things alone untill it shows its hand rather than forcing a count.
I do agree though the bears have to be careful as we go into this time pressure window.I don't use any indicators elovemer :eek: Just Price, Time and a hint of Volume for me.
If the counts not clear, I just go back to basic's of Alt Waves and Measured moves. The Alts help with degree, and the Measured moves help to show whether were' in a corrective or impulsive stage.
Changing time frames (ie Degree level) can also help narrow things down, I like to use the 60min and 120min to help with the higher frames.
As MarkBrown mischievously points out its also just as easy to leave things alone untill it shows its hand rather than forcing a count.
Status:
Hold long "Short position". Short "Long position" not entered because there is no higher high after -100, -15, -30 points.
Scenario 4, the WORST CASE SCENARIO.
The down wave since October 9th, 2007 is Minor Wave 1 of the Intermediate Wave 1) of the Primary Wave c] of the Cycle Wave IV. Intermediate Wave 1) may be 3000 points long and Primary Wave c] may be 7000 points long.
Minor Wave IVc]1)1 is a diagonal triangle type II and Minor Wave IVc]1)1 may be a parabolic down wave.
Strategy 4.
Open short "Short position" in addition to long "Short position".
Hold long "Short position". Short "Long position" not entered because there is no higher high after -100, -15, -30 points.
Scenario 4, the WORST CASE SCENARIO.
The down wave since October 9th, 2007 is Minor Wave 1 of the Intermediate Wave 1) of the Primary Wave c] of the Cycle Wave IV. Intermediate Wave 1) may be 3000 points long and Primary Wave c] may be 7000 points long.
Minor Wave IVc]1)1 is a diagonal triangle type II and Minor Wave IVc]1)1 may be a parabolic down wave.
Strategy 4.
Open short "Short position" in addition to long "Short position".