wackypete2
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Just for fun mate.....closed my short position today!
I would be interested in why you think it will go down more .. can you post a chart with your anaylsis ?
snowrider
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Pat's 1056 beat my 1050 again. I have to admit that he is so good!
It's really not easy. I still missed the target even though the market almost followed my preferred wave count last week:
http://www.trade2win.com/boards/us-indices/99824-sp-wave-count-2010-08-a.html#post1228884
I expected the market would retreat back to 1050 after reaching to 1060+. I did not expect the market close at day high without pulling back.
Anyway, since the count has been working, so far so good, I'll follow my preferred drawing to make a guess of 09/03/2010's close:
1030
It's really not easy. I still missed the target even though the market almost followed my preferred wave count last week:
http://www.trade2win.com/boards/us-indices/99824-sp-wave-count-2010-08-a.html#post1228884
I expected the market would retreat back to 1050 after reaching to 1060+. I did not expect the market close at day high without pulling back.
Anyway, since the count has been working, so far so good, I'll follow my preferred drawing to make a guess of 09/03/2010's close:
1030
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Pat494
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T2W doesn't seem to like my Metastock charts but I am forecasting using weekly charts plus moving averages and a lot of practice combined with luck.
You have a nice looking blog. I rather gave up on Elliot waves as my results weren't very good. Tried Gann too with only mixed results. The rainbow indicator is usually right for direction.
Good forecasting
Pat
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Pat494
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Thanks
my winning run may only be temporary.
You usually get the direction right which is the main fact imho
good luck
wackypete2
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1077
Peter
Peter
Thanks for the clarification and the positive feedback! You are always welcome to drop by and leave a comment if you like.
I used to find Elliott Waves hard as well, but the AO Oscillator does a pretty good job for getting the rough idea. But I use other tools to accompany that and to get exact entry and exit points.
Good Trading to you.
I used to find Elliott Waves hard as well, but the AO Oscillator does a pretty good job for getting the rough idea. But I use other tools to accompany that and to get exact entry and exit points.
Good Trading to you.
I am actually buying now at 1074,3. 5 waves are clearly done downwards on the 4h and I see a good setup for a buy. Let's see what it's gonna be.
Quite surprised by such a weak day today....
The battle is now at 1066 and 1040. The former breaks and the bulls have the initiative. However it is the bears with the ball right now. 1040 breaks - heading down to 1000 or less. Also head and shoulders point to similar level....lets see what unfolds!
Interesting stuff going on tonight imo. We've corrected 38,2% of the previous 5 waves on the 4h. That's enough to start a new 5 wave sequence downwards, plus, no buy has been hit yet. After prices have been down all day I wonder if that's going to be a quick one and we will see a continuation of the daily down action pretty soon. However, staying open minded to any new development :cheesy:
Impressive action today...lot of shorts getting caught with their pants down lol! I am still waiting for my next setup right now which will probably be short unless the downtrend is broken (there are several very longterm trendlines in place....they would need to be broken before I would go long). I should say I am an EOD trader, so for you guys who trade in shorter time frames I hope you did well today! I am sure there will be some carry throught for the next few days....
Pat494
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For Week Ending Friday 3rd September at 1104.5
A bigger rise than most expected. Gaffs is the winner this week - so congrats to you
:clap:
WINNERS
Pat .............5
hwsteele .......4
wackypete .....4
Gaffs ...........3
N. Rothschild ..2
dpinpon ........1
Elitejets ........1
luckyd 1976 ....1
A bigger rise than most expected. Gaffs is the winner this week - so congrats to you
:clap:
WINNERS
Pat .............5
hwsteele .......4
wackypete .....4
Gaffs ...........3
N. Rothschild ..2
dpinpon ........1
Elitejets ........1
luckyd 1976 ....1
TRADEFUTURES
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Buy S&P500 1300 CALL (December-2010)
Buy FTSE100 5000 PUT (December-2010)
Buy FTSE100 5000 PUT (December-2010)
