Ewj: elliott wave

Short position closed at target. Open long position. Set stop at the last low.
Set target at 200, 25, 40 points rebound. Will accept 1/2 to 2/3 target to reverse position again.
 
S & P trade update.... buy stop moved from just above Tuesdays high to breakeven(1514). Target is still 1350, when we trade down to 1416 I will trail a sell stop 29 points from the lowest low. This sell off from last Tuesday has the look of a "C" wave... the retracements have been very shallow.
 

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I would not be short this market today even if someone put a gun to my head.

FYI: Goldman closes a big gap at 193.25 and that also happens to be where the .618% retracement comes in.

:)
 
Quote from rtstrading:

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. :D

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! :)
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My last post above on Nov. 27th, the day of the low, I believe.... :D

At this time, we remain on track for the 5th wave higher with the 1st and 2nd waves in place and now the beginning of the 3rd and most powerful wave that should take us to new all time highs!

Still looking for the top in the Feb timeframe.

Hope you all got in on my last call? :p
 

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Just wondering if you guys can do a rundown on what elliot says about SQNM (a stock).

I just started with elliot... swing trade equities and papertrader futures.

I am also looking at pitchforks right now and harmonics. But will be a while before I can incorporate any of this...

Thanks guys.
 
..... is it legal for you to put ALL price action into the 3rd wave only ?
... ;)
Quote from rtstrading:
My last post above on Nov. 27th, the day of the low, I believe.... :D
At this time, we remain on track for the 5th wave higher with the 1st and 2nd waves in place and now the beginning of the 3rd and most powerful wave that should take us to new all time highs!
Still looking for the top in the Feb timeframe.
Hope you all got in on my last call? :p
More...
 
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