I would expect the rally to go to the Target Box. If it does not do this, I am wrong but won't lose any money as I am on the sidelines with the SHORT maximum squeezed for orange juice. Preservation is far more important to me. The main point is that within the limitations of Wave Theory and Practice - all limitations are MY OWN and not the fault of WAVE ANALYSIS - i.e. all errors are solely due to the practitioner aka driver. Lucky for me I think of the worst case scenario or even sometimes just the worse case scenario, the latter in this case being an incorrect wave count for wave 5 - that is the reason it was marked as 5 or 1/5 in a previous chart. In this event wave 3 is subdividing. How do I resolve these dilemmas? By invoking my other friend, STRAIGHT TA - break that support and the red light goes off for deadbroke to consider re-entering the SHORTY. Do thee see the 261.8% support? Its clearly marked. If that goes abroken we goes to 423.6%, a long good SHORTY. Uploaded with ImageShack.us
Yes I always do the wavecount. Yes, 75% of the time I use the trendline break to confirm that the 5th wave within the 5-wave sequence has rolled over. Other times i.e. approx. 25% when I see the internal subdivisions of the 5th wave within the 5-wave run AND see a major Fibonacci resistance level right there, I take profit and Short instantly WITHOUT waiting for a trendline break. There are still other reversal points that might help me BEFORE I resort to the trendline break .... these are wave measurements wherein a 3rd wave is usually 161.8% x Wave 1 etc., etc.,
I like how you seek multiple confirmations from trendlines or Fibb levels, in addition to the count. I understand 1.618 -- which is approx the ratio of adjacent Fibb numbers. Eg. 5/3=1.6. You also mentioned 1.414. Is that root(2), and why would that naturally come about from a 5-3 sequence?
The 1.414 is under construction and observation. I have seen it work in some cases but it pales in comparison to 1.618 or 0.618, the Golden ratio. The idea is not MINE. It came thru' the ages and landed on Larry Pesaviento's desk. Larry flung it out the window and it landed on my head. Gave me a fckin headache it did. I haven't yet been able to fit it in with any degree of confidence, but I do know that there must be a complemental ratio to 1.618. I'm still trying to find the fit. If found it will be a major discovery and most certainly an EDGE. The 1.618 is now too well known to be called an EDGE. What I love about the Golden Ratio is how nicely it matches and corroborates classical TA's support and resistance levels - sometimes uncannily so.
The dead one doing it in his sleep - and for the complaining ijjit, WELL IN ADVANCE as established by ET's date and time stamp. The only thing I'm waiting for is to see if my A-B-C depiction works out as originally stated several days ago. So, nothing has changed during the last several days ... same chart just updating price. Uploaded with ImageShack.us
see previous post for chart at right hand side after trendline break Yeah the dead one loves a good kiss - so does the dollar index - anyone see that sweet kiss of the trendline after breaking it on 60-min.? Then there was a 2nd attempt to kiss that was broken up by another boyfriend, namely the 50 m.a. And after the 2nd attempt to kiss, did anyone notice how quickly Romeo vamoused from the scene? That baby, is an internal 3rd wave. http://www.youtube.com/watch?v=OODDCWOkw3A
Now look at the $ Index chart 2 posts back and then watch in awe this new trendline that just developed in realtime as we speak - $ knows its there and just acknowledged it to the dead one. He can go right thru' it but the fact he paused is enough to know that he knows its there. Anybody else can do this? Circular motion with the right hand, yeah baby. Uploaded with ImageShack.us
All instruments love the dead one dearly ..... Dow moving right along according to dead's expectations. And hey, look where he paused for the day? Right at the 1H 200 m.a. And again for the ijjit, all drawn up well in advance. Uploaded with ImageShack.us
And heh, this is an american board, right? We are the greatest nation on earth, right? We are the smartest people on earth, right? Yeah suck my dick. We are the dumbest leaders in existence - doesn't mean that there are any better leaders - there aren't, the chinks can suck my dick and take a sausage on the head from me. But if this is the height of intelligence in our USA, we're done for. Fuck it man, I'm so bored, its not even interesting no more to make money. Just for the fuck of it I bought a ton of shit from Best Buy the other day just to have something to do to avert this boredom. The crows wanted to give me 3 years at 0% financing on the spot on a credit check. I told to suck my dick and just paid cash. I'm bored with that crap too. I'm taking it all back, just keeping the nice wide-screen TV - the rest of the shit is going back, good riddance. I don't need money no more - don't need zip, really just a fckin honest to god tough challenge. I need a new game pronto.