Ewj: elliott wave

Most will be seeing the 3 lows of a w-x-y pattern going into this mornings low...

However, if the x wave was a failed 5th, common after an extended 3rd We could be in a B wave pattern, which would set up a C for the afternoon..

Put both counts on a 5min ES :)
 

Attachments

Key area now for the bulls..

Wave iv buy'ers are trying their luck, they need it told hold to get the V into the close.....otherwise the bears will see the larger measured move down to 1359...

5min ES :)
 

Attachments

One for elovemer ...

Penguin bar :)

Tom Williams often goes on about upthrusts or no demand bars, but these need lower volume..

What happens when the Vol increases into a wide spread bar ?

These are called Penguin's ..

The name comes from when aircrart fly over Penguin's. They all look up to see the plane, but topple over as the plane flys past ! :)
 

Attachments

I favor a double zigzag wave iv because of DJI-SPX divergence with NASDAQ . :) But ready to change to Mup's count if "W" neckline is broken. :D

Status.
Close short "Long position" after the Market failed to break Wednesday close and there was a lower low. Short "Long position" opened at the Reverse Head and Shoulders confirmation.
Strategy.
Hold longs above "W" neckline. Sell if the neckline is broken.
 

Attachments

Falls to Mup's Measured Move Target then rebound to new high.
Good job, Mup. :D

A line in Mup's Chart is 1362.75. Actual low = 1362.83. :cool:

Quote from Mup:04-04-08 02:50 AM

Key area now for the bulls..

Wave iv buy'ers are trying their luck, they need it told hold to get the V into the close.....otherwise the bears will see the larger measured move down to 1359...

5min ES :)
More...
 
You must log in or register to reply here.
Back
Top