Ewj: elliott wave
- Thread starter mu200411
- Start date
The Market rebounded from the 38.2% Fibonacci Retracement. :eek: May be it is ready to roll. 
If next wave is .3:3 it should be very strong.
If it is an ending diagonal as Mup said it should be weak and shorter than +800, +80, +160 points.
If the upward corrective move had ended, the Market will be more impulsive downward from now on.
This will be more likely if the 61.8% retracement is exceeded.
Status.
LT long position sold at open due to resistance at +200, +20, +40 and bought back at close when the "M" pattern is complete on Wednesday.
ST long position opened at the "W" confirmation as said.
Strategy.
Hold both long position if UP.
Open ST short position if DOWN.
Cut loss on the ST long when 38.2% support is broken.
Take profit on the LT long when the 50% support failed.
If next wave is .3:3 it should be very strong.
If it is an ending diagonal as Mup said it should be weak and shorter than +800, +80, +160 points.
If the upward corrective move had ended, the Market will be more impulsive downward from now on.
This will be more likely if the 61.8% retracement is exceeded.Status.
LT long position sold at open due to resistance at +200, +20, +40 and bought back at close when the "M" pattern is complete on Wednesday.
ST long position opened at the "W" confirmation as said.
Strategy.
Hold both long position if UP.
Open ST short position if DOWN.
Cut loss on the ST long when 38.2% support is broken.
Take profit on the LT long when the 50% support failed.