Posts by "daveo"

decent range candle today, would expect to see some retracement possibly testing the trend resistance now potential support line. Ashraf line going horizontal btw. If price breaks below we can probably assume the corrective has completed.

I wouldn't mind betting something completely unforeseen will occur but its time for some other nation to make a better job of "leading by good example". USA are spent out and irrecoverable imo, drowning in their own BS.

Yeah subway, completely open minded here, trade what comes for the nfp. Extraordinary wide range of sentiment/prediction reflecting lower credibility than ever in the united states of bullshit number crunching. Even ashraf jumping up and down trying to predict :-)

said, alternate count:- 5 waves up from June low to 8th Aug high = Wave A,
Complex corrective down to 24th Aug low = Wave B,
5 Waves up to the 4th Nov high = Wave C. Implications we go to new lows below 1.1875.

The potential ABC had C wave reversing at between the 100% and 127% symmetry with wave A.
move below the potentail Wave B low at 1.2586 would confirm but first we would need to break below the 1.2968 pivot low.

Gunjack, the trouble with EWA is can always find 3 counts. From the 3 alternates an experienced elliottician will have his "preferred" count and know exactly at what levels that is validated or invalidated. Hence EWA can be very tradeable if the right attitude is applied. At the very least a basic study teaches what to expect in terms of patterns which constantly repeat. I integrate EWA with a number of other tools in my clip.

I cannot attampt to teach EWA on this forum which has no facility for charts other than the basic default chart. Also would need an RT room to be effective.

5th waves can play out in variious ways and have about 3 typical projections one of which is the length of wave 5 can often = the length of the wave 1. A 5th wave can also be a "diagonal" which is prone to truncation or else an interminable narrow range affair.