Yes we were on about it back in Oct with those great charts of yours
http://www.trade2win.com/boards/showthread.php?p=283968#post283968
http://www.trade2win.com/boards/showthread.php?p=283968#post283968
andycan
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we sure were!!!Bez said:Yes we were on about it back in Oct with those great charts of yours
http://www.trade2win.com/boards/showthread.php?p=283968#post283968
now lets see how it starts to act here i suspect we are close
magnitude is the issue as always
Bez said:
Hi Bez,
Thanks for your response. I just wish I could understand EW analysis more than I do. I can grasp the basic principles of the number of waves, but 'where' to start and finish drawing them, is, I'm afraid, way beyond me. I guess you start from 'point A' and draw the lines in relation to fib numbers. But, on the chart of the INDU do you see a pullback to 12338 as the next wave, and, would I be right in saying, that wave 3 could still extend anyway? As I write, the futures are up 22 points again.
cheers - Tricks
It can be hard a first to get a grasp on the waves and which degrees to lable but it comes easier after time. I've lost count (no pun int how many times i've thumbed through Prechter's books over the years to double check counts.
I would like a pull back to a fib ratio measured from point (8) to point (9) but no lower than point (8)'s low as this was the last Medium delta turn point ( 12337) . If it breaks that it means a high frame is in and I would have to re assess things.
We are due a medium delta point high around this week ...so that INDU EW count would fit very well to have the next Medium delta point low on the 8th+/- of March as a wave 4 low.
It quite rare to have more than 9 waves on a higher degree daily time frame & the 261.8% extention is a classic wave 3 target so this area (+/- for stops) will catch the eye of the techincal traders now this months buy options expiration is out the way....
But I'm just an intraday trader, I only look at the higher time frames as a gray matter exercise just to get a basic idea of directional pressure.
how many times i've thumbed through Prechter's books over the years to double check counts.I would like a pull back to a fib ratio measured from point (8) to point (9) but no lower than point (8)'s low as this was the last Medium delta turn point ( 12337) . If it breaks that it means a high frame is in and I would have to re assess things.
We are due a medium delta point high around this week ...so that INDU EW count would fit very well to have the next Medium delta point low on the 8th+/- of March as a wave 4 low.
It quite rare to have more than 9 waves on a higher degree daily time frame & the 261.8% extention is a classic wave 3 target so this area (+/- for stops) will catch the eye of the techincal traders now this months buy options expiration is out the way....
But I'm just an intraday trader, I only look at the higher time frames as a gray matter exercise just to get a basic idea of directional pressure.
hobby
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Bez said:It can be hard a first to get a grasp on the waves and which degrees to lable but it comes easier after time. I've lost count (no pun int
I would like a pull back to a fib ratio measured from point (8) to point (9) but no lower than point (8)'s low as this was the last Medium delta turn point ( 12337) . If it breaks that it means a high frame is in and I would have to re assess things.
We are due a medium delta point high around this week ...so that INDU EW count would fit very well to have the next Medium delta point low on the 8th+/- of March as a wave 4 low.
It quite rare to have more than 9 waves on a higher degree daily time frame & the 261.8% extention is a classic wave 3 target so this area (+/- for stops) will catch the eye of the techincal traders now this months buy options expiration is out the way....
But I'm just an intraday trader, I only look at the higher time frames as a gray matter exercise just to get a basic idea of directional pressure.
I'd have to say that no matter how many times I read your posts, I never really know whether you're saying the outlook is bullish or bearish...(not meant aggressively!) but I guess that's cos I'm not in the least bit EW'ed up!
So what is EW telling you at the moment...in 'non-EW speak' for others like me!
firewalker99
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leovirgo said:
Looks like it needs some kind of catalyst to break that support
Edit: as we speak...
Last edited:
The_Prophet
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firewalker99 said:Looks like it needs some kind of catalyst to break that support
Edit: as we speak...
Catalyst - Well we have Iran causing a bit of a fuss.. will it lead to anything?
