Ewj: elliott wave
- Thread starter mu200411
- Start date
@blnbr
Placed my view @ your chart:
I'm still looking for wave 5 with last ABC as 4. Lot of divergence in daily indicators while making C, so i'm thinking of an important change in daily trend.
A test of crisis lows or at least a clear higher low @ weekly.
Placed my view @ your chart:
I'm still looking for wave 5 with last ABC as 4. Lot of divergence in daily indicators while making C, so i'm thinking of an important change in daily trend.
A test of crisis lows or at least a clear higher low @ weekly.
Quote from Landis82:
Eric,
Yes, I worked for PTJ in his infancy some 23 years ago and trust me when I tell you that he used EW as merely one part of his technical toolbox. Interestingly enough, his letter to his Fund holders dated mid-October was extremely bullish on Gold, citing all sorts of macro supply/demand characteristics and not one mention of Elliott Wave.
Meanwhile, looks like Neely has given up on his pattern of a final moon shot up and is now seeing the potential for a sharp thrust down.
Neely has been so horribly "whip-sawed" this year that it isn't even funny.
I think there's not much clean E-waves going on since March last year. So it's hard even for the E-wave gurus to predict the market under the situation. But these guys are in E-wave prediction business and they have to do it all the time. Not surprisingly they made more wrong calls at the same time. I think they are still good, but subscribers need to be well aware of what's going on to avoid being the casulties of their mistakes.
Hi MitchWorse, While I cannot exclude the likelihood of your label version, I still think the 5-wave label on my chart fit the E-wave pattern well, so itâs still my first preference for now. If the market is indeed in wave C and is moving down from there, then we may see another major 5-wave down and makes new low. But that would be perhaps the most bearish scenario.
Since Iâm a relatively new E-waver, I want to see what the other senior people have to say
Gold
The party is almost over ............
The party is almost over ............
Quote from Landis82:
Eric,
Yes, I worked for PTJ in his infancy some 23 years ago and trust me when I tell you that he used EW as merely one part of his technical toolbox. Interestingly enough, his letter to his Fund holders dated mid-October was extremely bullish on Gold, citing all sorts of macro supply/demand characteristics and not one mention of Elliott Wave.
Meanwhile, looks like Neely has given up on his pattern of a final moon shot up and is now seeing the potential for a sharp thrust down.
Neely has been so horribly "whip-sawed" this year that it isn't even funny.
I'm assuming what makes PTJ great is that despite the fact he is so bullish on gold, he probably isn't married to the position. If it turns bearish like Prechter suggests, I bet he sees it, changes his mind and makes a boatload on the downside.
Poor Neely traders. I wish I had the results of his last 50-100 trades so I could run expectancy numbers on them. I guess it is o.k. to be wrong alot as long as your winners are BIG.
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