Recent content by cguesty

Mully, I believe the reason why EW is able to predict is somethiing due to the markets being highly emotional. EW supposedly maps the various phases of mass human psychology. Some people do take it to extreme. I find some of Pretcher's predictions a bit melodramatic. HungryBear...

I agree with you on that 2468steve, EW is good for narrowing down the possibilities, but it's price action that determines which one is correct. It's then a question of building a strategy that allows you to profit from that knowledge

Hi Sumathik, interesting counts. One point, in that last count of yours you have 1up 3777-4185 2dn4185-3287 But your wave 2 cant go past (3287) the begining of wave 1 (3777) ... that's one of Elliot wave rules. The only way of counting 3777 as the low would be as an expanded flat...

Bonsai, I think this whole gap has been an underestimate.... with the Dow at 4:30 GMT at about 9260 and then closed at 9113 = 1.6% drop (approx) . With the FTSE close at 4149, that should have roughly translated to 66 point drop to around 4085 ish

Bonsai, Yup. I have 0.618 retrace as 4091.

Laduguie, I had this down as a simple a-b-c from 3952 finishing at 4136. Then a series of 1-2's , a third wave and are currently in wave 4 up (which has retraced to 4080 wich is 0.5 of the 4127 to 4032 third wave move). Waiting for a 5-4-5 sequence to finish the sequence...

Barjon, there's also possible engulfing bear at 1:30 ? (I'm bit tentative as I'm fairly new to candlesticks. Halfway through Nison's book at the moment).

Lambchomps, d4f has crashed twice on me in the last 7 days and has had a couple momentary freezes. I've been using them for just over a year and It's not usualy as bad as that.

Bonsai, I usually use EW to determine where we're going and to be honest with you I'm not too happy about the counts. NDX and compx new highs. Dow looking choppy and FTSE correction has gone past 0.618 (only by a small amount admitteldy). I think there's a little more...

No position at the mo. Waiting for the Dow to make up it's mind. Seems a little edgey out there. Or maybe that's just me.

Nas Composite has made a new high for the year today.

Next Fib for the ftse I have is 4116 .... 0.618 retrace of the 4218 to 3952 move

Esiotrot, as Fibonacci is a naturally occuring ratio/sequence it would make sense that it should work better on more liquid, higher volume stocks/index, where herding, fear and greed would be more prominent. Would be interested in other views.

Definately due a bit of upside, Barjon, but I reckon it's only going to be a correction to set up for a larger down move this afternoon. Reckon the US jobless data at 1:30 will be bad . But that's only my opinion.

Lockstock, if you wanted to have a long and short trigger on d4f, set a limit order (sell) for your short and a stop order (buy) for your long. Then cancel whichever doen't trigger. I think you may be able to join the two with an OCO order so that the untriggered order...