Ewj: elliott wave

[Mup]

Hmm 5 points short.... Not to worry...

Bouncing of that channel , one for elo

Looks like the 7 wave abc-x-abc is on the minds of TA traders (posted the w-x-y on friday)
http://www.elitetrader.com/vb/attachment.php?s=&postid=2218612
15min ES

 

[elovemer]

.....nice work today blokes....
..... what a strange day.....

..... sure seemed wyckoffesque there at the end.....

 

[mu200411]

Here is a more bullish alternative, Mup.
9 waves UP and double zigzags DOWN at MM or an ED .
There may be a measured move UP

 

[elovemer]

that bear flag failed.....

will this bull flag fail ?

 

[Mup]

As always I'd perfer the Bear option...

Elo highlights the fact , that a downside breakout would catch the most people out.....

 

[mu200411]

Measured move reached as expected . The rest of the day may be sideways and some correction .
After that the chances for UP and DOWN may be equal again .

 

[Mup]

Usual line in the sand with the 896/897 area

Bears below - Bulls above

 

[Mup]

EUR #F has some extentions

141.4 area is the 161.8% ext for a wave (3) target...

120min EUR # F

 

[Mup]

That 1;1 line in the sand the bears will be looking at ....

 

[elovemer]

.....see what happened on that ending diagonal on uup....
.... not bad....

Quote from Mup:
EUR #F has some extentions
141.4 area is the 161.8% ext for a wave (3) target...
120min EUR # F