Ewj: elliott wave

Quote from Mup:


------------------------------------------------------------
Oh like the Extra Opera Tabs elo, on that last P&F chart. :D :D
More...

I wondered if anyone else saw that ; )
 
Some are seeing the 5=1 target around 778 so might get a small bounce...

These lesser supports normally give way to the larger degree wave structure sooner or later with that 773 just below....
 

Attachments

Mup, I like to hold positions for a couple of days to a couple of weeks using the daily chart as my big picture and entering on a shorter time frame chart (45-90min)
 
Quote from ericmoles:

Ed, which way are you leaning? A flat and currently in wave B or the beginning of wave 5 down?

If you are leaning towards the flat, what price action would negate that theory? Would you be looking for lots of support at 735.46?

And most importantly, how could we trade this? If we suspect a flat, would you limit in at 735.46, or wait for confirmation and a break above a previous bar?

I'm having trouble using EW in the now as a trading vehicle. It works great in hind sight, but I need get a grasp of how to use the probabilities of the counts to determine position direction, targets, and stops.
More...

Eric,

I am bearish and yes, I believe there is a chance A has completed and B is underway in the flat scenario.

One very important thing about EW is alternative counts. So, while I think it could be a flat, I am not ruling out a triangle as Mup see it. Neither am I ruling out the start of (5) :)

Mr Market goes where ever he (or she) feels like. So we can only guess which is the most probable path and observe how the charts develop.

735.46 is the 1:1 target for c wave to equate a wave in the B down. If c is more than 1.236 of a, then the odds swing to favour that of (5) down or something else :)
 
Quote from Mup:
Some are seeing the 5=1 target around 778 so might get a small bounce...These lesser supports normally give way to the larger degree wave structure sooner or later with that 773 just below....
http://www.elitetrader.com/vb/attachment.php?s=&postid=2310110
[/i]
More...

Advanced GET users got their 5=1 bounce...

Are they going to waste even more time with an a-b-c pattern? (If it closes below 783 then the odds favour the run down to test that 773 area 1:1...

5min ES
 

Attachments

Might be upside down with the delta... :eek:

Its saying a bounce in the afternoon... either as a (c) wave from a triangle (B) or as a wave 2 from an LD wave 1 pattern...

It Seems Meredith Whitney didn't see eye to eye with Oppenheimer :D
 

Attachments

You must log in or register to reply here.
Back
Top