Trading the DOW with Elliot Wave

[breadman]

thankyou k3lly.

 

[k3lly]

The fed need to cut the interest rate today to keep this wave count on track!! I reckon they'll only go for for the 0.25% cut not half a point though

 

[catracho]

C wave down?

Are we still on the Wave 5 count? or does a C wave down (for a few weeks or till end of year) then a rally (for 2008) look better?

 

[catracho]

wave count possible

Elliott wave counts are always revised, cos until the action has happened the rest is conjecture/ educated guesswork - but most TA is - it's good to have the different scenarios outlined so action can be talen as necessary

see graph...

imho this is what fits best...a down market into end of year (maybe a Xmas rally)..then a BIG rally 2008-09 (fueled by central bank rate cuts - nowhere else to put your money, apart from gold and other commodities)

 

[dick_dastardly]

Elliott wave counts are always revised, cos until the action has happened the rest is conjecture/ educated guesswork - but most TA is - it's good to have the different scenarios outlined so action can be talen as necessary

This was always my problem with EW.

Price would either confirm my wave count ( in which case wonderful ) or it wouldn't ( then I just went back and revised my wave count ).

For me, EW is nothing more than the trading equivalent of Nostradamus. The only way to make the predictions fit is after events have unfolded.

dd

 

[newt24]

intresting ... thankyou for all the information