Perfect Wave - 2012-1/2

update . needs to turn down soon.

Hope you don't mind me posting here. If you prefer i'll post these in my journal. I'm not planning on doing this often :)
 

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Last post.

It did turn down as expected but didn't make it to target.
Still a chance it could make it to 2410 next week, imo, but not as confident now.

Thanks snowrider for letting me hijack your thread. I'll go back to lurking here. :)
 

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Quote from jas_in_hbca:

Last post.

It did turn down as expected but didn't make it to target.
Still a chance it could make it to 2410 next week, imo, but not as confident now.

Thanks snowrider for letting me hijack your thread. I'll go back to lurking here. :)
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jas_in_hbca - You are welcome to post here. I did not check this thread today until now. Let me post my weekly counts first in my post. I'll find a time later on weekend to review your counts. (I'll go skiing next two days, so I won't check until I am back home.)
 
01/21/2012

Comments are welcome!

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128178d1327123470-perfect-wave-2012-1-2-20120121-jpy-daily.png
 
Quote from jas_in_hbca:

Thanks Snowrider !

Looking at the waves while waiting for a trade

just 1 for today. let's see if this plays out . haven't looked for a target yet
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jas_in_hbca - I took a look at your posts. All make sense to me! This one is especially good! It could be a higher degree wave-c or wave-3 going down now.
 
i agree with your projections on gold, but im not sure your wavecounts match mine. i like to keep it simple, so i only use waves 1-5 and then abc.
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nim1984- Thanks for commenting and sharing your thought. Yes, I like your idea of keeping it simple. That is also one of the reasons that I don't agree RP's wave counts most of the time.

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i think wave 5 of wave A was over at 1522, assuming 1920 was end of wave 3. right now we're in wave B which could go as high as 1760 area. then wave c will break to new lows...maybe mid 1300's?

then we'll have the last wave 5 which will take out the high of 1920, but dont have a projection for it.

note: i'm not an elliott wave junkie. i did this analysis in 10mins looking at monthly chart, just to get a feel for where we are right now in the cycle.
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Your scenario is quite possible. In that case, this big ABC correction is in the same degee as that of 2008 one. For now, no matter whether we are in a big ABCDE or a big ABC, the medium long term's momentum is heading up.
 
for gold, you're saying that the c wave might have ended. you have wave a from 1522-1662, b wave from 1662-1625, and c wave from 1625-1738.

however your c wave is only 113 pts long, compared to wave a's length of 140.

c waves are often longer than a waves, going upto 1.618 times wave a, so why do you think c wave will be truncated this time?
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nim1984 - Good point! We don't know if wave-c has finished yet. That was just my guess because GCG12 is rolling over to GCJ12 now. Sometimes a reversal occurs around futures contracts' rollover dates.
 
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