Decision time soon for the Dow / Ftse in relation to their respective point and figure charts. I personally feel they will break up to start the 'C' wave of this large correction. Whichever way it goes, we must follow and not lead.
I should imagine there are some sites offering P&F charts free or on some sort of trial basis but like anything concerned with the internet, it is too easy to become over loaded with information. (Especially in this game). Paralysis by analysis is a phrase I like as it reminds me to keep it simple. Which is basically what the P&F chart is. A simple system of charting the trend.
The following address gives a good search engine for what you seek: -
3900 & 8500 targets met this morning. A nice few 'K' banked. Still feel there is more left in the tank but it will soon become 'frothy'. As always, got to be as clinical as ever and take the money. Now for the wait until the froth as settled. The old methods are always the best - and lesss stressful. Bit of sun bathing today I reckon, nice and warm here in Essex.
I'm not saying it will be correct although it has been to now, if the situation changes it simply means the labelling is incorrect.
Most peeps fail to understand ewaves because analysis can be incorrect incorrect, when in fact ewave theory is never incorrect (only the students interpretation is incorrect). It is often possible to label the market position in a number of different ways at the same time, it is the tech indicators that help with choosing the correct high probability labelling.
With due respect I think our friend Lempicka here has just highlighted the reason why 90% of traders don't, nor ever will, use Elliott Wave analysis. He has just given us a prediction and spent the next 10 lines covering his back about it's not always right, and it might be wrong and if it is wrong it's my fault and not the omnipotent waves. C'mon, stick your neck out.
How can one trade with if's, but's and maybe's. I put my head on the block last week, check the other threads, I said the index would DEFINITELY rise from 7962, no if's, but's, it was a DEFINITE. And inevitably it did.
You see this is what I tell my students. Elliot waves are 100% correct 20-30% of the time. When it is not you must use and learn 'other techniques', which are more relevant for that trading environment.
That's the problem with people like Lempicka who rely solely on EW wave analysis - they are in limbo 80% of the time.
PS - If your pigs ain't flying yet your feeding them the wrong stuff.
Pigs can fly you just don't know how to make em do it. See what I mean?
Well if u r foolish enough to believe in market certainties then i am unable to help u. I go with probabilities but i'm intelligent enough to realise there can be 99.9% certainty but never 100% certainty in the market, i have learnt to develop a healthy respect for it. Definites is complacent and foolish in trading
We can all point score (the diagram highlighted the market would fall to 3570 and rise to 4000) but it was not definite it was just the likely scenario, the high probability count.
And i still fail to understand how with the market on a piece of string for u over the last two weeks u r still underwater in the competition, as i said it takes a special kind of inability
I guess you must have missed
", it is the tech indicators that help with choosing the correct high probability labelling." and the H&S in the diagram
if u think anyone using ewaves uses them without a good understanding of chart patterns, technical indicators, candle theory, channelling theory etc then u really do have no or little understanding of wave theory.
The whole basis of it demands it only works consistently in conjunction with other analysis of whatever kind.