Ewj: elliott wave

We got back to that key 88.6% as mentioned before..(elo, hightlighted it , I think with the red lines on his chart?)

This is the frist pressure point it could turn, the other is the 61.8% @ 1236.5 (ES) just above the DT.. 88.6% is not that well know and could catch a few out a move down from it...

So key area's
 
If it gets back above the 1234 then the pattern morphs into a possable ED "C" going to the 61.8%

I'd like the 88.6% lead as you get real sharp moves of them, but I'l switch on to the ED if it wants one more high..

15min ES
 

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Looks like it :)

You could also label it a triangle "y" wave but thats getting a little complicated so an ED will do for me :D

were in the 5th now going into that 61.8% or may be the stops just above...


15min ES
 

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Third wave at measured move and resistance trendline, may be wave .ii . Wait for a pull back to confirm wave .ii count.
Otherwise, it is a wave five failure with wave one to the upside.
 
Quote from mu200411:

Third wave at measured move and resistance trendline, may be wave .ii . Wait for a pull back to confirm wave .ii count.
Otherwise, it is a wave five failure with wave one to the upside.
More...

Mu,

If it is a wave 1 up today, it seems there is a lot overlaps.

It also appears too "extended" to look like a w3 or w5.

I am still thinking it looks like some sort of diagonal....

Well, we'll just have to find out tomorrow!:)
 
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