Ewj: elliott wave

[Mup]

WFC

Reached its 1:1

Could be very mischevious and still be in a (y) wave pattern with $5 bucks then $2 on the cards...

If Wednesday Mark to Market meeting doesn't produce the results most are looking for...

 

[Mup]

ES has just bumped into its 50% with the 1:1 just above so a supply area to deal with...

5min ES

 

[blnbr]

USDCAD might target 0.618 at 1.3400~1.3450 in the next few weeks .

The time switches every half year seem to only create trouble and confusions. I doubt there's a real economic value there, just something silly to do for all of us...

 

[ed]

Since we do not know which wave extended, a count of nine, with few overlaps is more likely motive.....

SPX 120min

 

[Mup]

Quote from Mup:

ES has just bumped into its 50% with the 1:1 just above so a supply area to deal with...
http://www.elitetrader.com/vb/attachment.php?s=&postid=2339686
5min ES

They playing nice this morning

The 684.5 is the lesser 50% (gann) & if/when that goes then -14.5 is the ALT back down will be the next eyeball...

 

[blnbr]

BAC may be in abcxabc mode, after 5-wave down.

 

[Mup]

That 680 Area (ES) needs to let go for it to have a run down to new lows as ed points out...

If its holds the 680 area, then a time wasting (c) wave back up becomes viable...

5min ES of that option....

 

[ericmoles]

If 680 breaks, what are the chances of a C wave breaking higher above Mups 694.75 ?

Sorry I couldn't include more open space to draw out the future trends.

 

[ericmoles]

Looks like that last rally would negate my 1:1.

Back to the guessing board.

 

[Mup]

That 1:1 target is fine eric if that 680 lets go, just "slid it upto that 689.25 swing point...

Then if that 1;1 target lets go (around 675)... its telling us its impulsing and the odds of a flat becomes low.

If the 1:1 holds (or a ratio of it), then its telling us the pattern is still corrective and the Flat (c) is still on...

Hence how these 1:1 Alternate waves are like traffic lights for pattern odds


On a side note The odds then firmly swing in favour of ed's impulse pattern from this morning if we go below 674... ( the Momentum Box also goes 3 frame -ve below that 674 area)