Ewj: elliott wave
- Thread starter mu200411
- Start date
Drinking some Lagunitas IPA and looking at the hourly SPX chart . . . 
Appears that (late in the day) we finally got into the little "v" of the 3 of the (5).
Could get a nice 4 bounce at some point next week that might even carry us back up towards 775 again, before heading back down to finally complete Wave (5) and set-up a major low.
Nice to see Bob Prechter today on CNBC.
He looked, and sounded GOOD.
See ya all next week everyone!
Appears that (late in the day) we finally got into the little "v" of the 3 of the (5).
Could get a nice 4 bounce at some point next week that might even carry us back up towards 775 again, before heading back down to finally complete Wave (5) and set-up a major low.
Nice to see Bob Prechter today on CNBC.
He looked, and sounded GOOD.
See ya all next week everyone!
Illum,
I labeled the waves one degree too high, but the foreguess is still the same .
That Diagonal Triangle Type II (Wave 1-3-5 contained 5 subwaves), hinted that there would be another 5-waves UP, so the á-â-ã pattern in Wave 5)3.5:2
.
The impulsive 5-waves DOWN from today's high should be the beginning of Wave 5)3.5:3.
There may be an Exhausion Gap before Landis' 4 bounces .
mu.
I labeled the waves one degree too high, but the foreguess is still the same
.That Diagonal Triangle Type II (Wave 1-3-5 contained 5 subwaves), hinted that there would be another 5-waves UP, so the á-â-ã pattern in Wave 5)3.5:2
.The impulsive 5-waves DOWN from today's high should be the beginning of Wave 5)3.5:3.
There may be an Exhausion Gap before Landis' 4 bounces
.mu.
Wave 5)3.5 is ending .
There may be an nice 4 bounce of 470, 62, 137 points back to Landis' 775 target .
.There may be an nice 4 bounce of 470, 62, 137 points back to Landis' 775 target
.Quote from Landis82:02-28-09 07:11 AM
Drinking some Lagunitas IPA and looking at the hourly SPX chart . . .
Appears that (late in the day) we finally got into the little "v" of the 3 of the (5).
Could get a nice 4 bounce at some point next week that might even carry us back up towards 775 again, before heading back down to finally complete Wave (5) and set-up a major low.
Nice to see Bob Prechter today on CNBC.
He looked, and sounded GOOD.
See ya all next week everyone!
I'm havn read all posts, but i have some questions
1. How do you find entrys? by the time you see one wave is over, youre already too late on entry
2 stops? how do you set them if any
3 Where are targets?, do you use fib retracements for this?
4. Support and resistance, is the wave itself susposed to be the s/r?
thanks
1. How do you find entrys? by the time you see one wave is over, youre already too late on entry
2 stops? how do you set them if any
3 Where are targets?, do you use fib retracements for this?
4. Support and resistance, is the wave itself susposed to be the s/r?
thanks
For question #1, I think when you see one wave, you need to wait for the pullback and find an entry there. For example when price starts to rally and you believe a 5-wave move is underway, you should look for the entry to go long at wave-2 or at wave-4, etc. Vice versa for the downtrend play for short. The key is to acquire necessary EW pattern recognition skills and experience. For which, I myself am learning from the other guys here.
For protective stop, I think one of the general principles is, when the price is not forming the wave pattern you have expected, you should exit. But someone here may give you a better answer.