Ewj: elliott wave

Just a little food for though on the weekly CL #F for those talking heads on TV who say oil has topped out for good...

We could easily get a (9) wave III if things go pear shaped.... :eek:

The best the bears can hope for is we just finished a simple (5) wave III and now in the IV..

Weekly CL#F
 

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Quote from sg_ccw:

It isn't a normal w3 is it?
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I like the look of w-x-y pattern "a" wave finishing at this mornings high. Hence my downward bias for this afternoon as part of a larger "b" of an Expanded Flat that we saw before , (it could have an extended C wave).. Another option that would waste time on OE day would be a triangle.

I'll put both options on a 15min ES...

15min ES
 

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There is wave :v and it is forming an ending diagonal.
Next new high may be a Bull Trap. But the pull back to wave :iv may be small, 200, 20, 40 points.
Supporting Trendline break is a sell signal. Buy back near wave :iv when there is a higher high.
 

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Quote from Mup:

I like the look of w-x-y pattern ...
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I find your ABCs & WXYs very interesting.

I can't help but wonder how you managed to nail those counts so many times. Perhaps it is time for me to get back to preschool to get my ABCs right:D ...or should i focus more on my math 123s....:D

On goog, I thought your b wave looked like a 4. But well, the market is always correct isn't it?

Mu,
You are absolutely amazing to be able to read the counts on a simple Yahoo chart!!! I like EDs.......

Can I know what is a r-sHs? Thanks.
 
nice link Xuanxue :)

If it does Morph into an ED it will be another gift for the bears as the natural down side target would be the start @ 1210.5 on the ES. I'll scribble the pattern on a 5min ES.
 

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This is a terrific thread. What book would you all recommend for a complete newbie (and idiot) in regards to the EW theory? I'm sure it's already been posted, but I haven't had the time to read through the entire thread yet. I've been trying to do it on my own, but I've come to the conclusion it's going to be impossible without a lot of help.

Thanks,

T
http://actionpointsta.blogspot.com/
 
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