>>>>>Well, one of those configs still suggests that this downwave might be only a wave 4 within wave C - this would mean that we will challenge the 50% Fib once more and maybe even exceed it. <<<<<< There you have it. So, it was the first of the 2 configurations that is the correct one, so I shall now re-work the chart. Uploaded with ImageShack.us
So now that we are in the 5th (circled) wave up for wave C, what do we know? That the penultimate wave aka wave 4 (circled) has spoken. Therefore we are in the ultimate wave aka the last sub-wave up, namely wave 5 (circled) Where and how can we determine where this wave 5 circled will end? The answer comes from the Hypothalamus of the HERD - some HERD members, especially those at ET might have only a Spleen or at worst, only a colon instead of the Hypothalamus or Thalamus, but no matter .... there be an equation to figure the length of the 5th wave .... wave 5 = wave 1 or wave 5 = 161.8% X wave 1 or wave 5 = 61.8% X wave 1 .... for a failed wave 5, meaning that it fails to exceed the top of wave 3. ---------------------------- so where does wave 5 stand now? well, we've gone past 61.8% X wave 1 and are at EXACTLY wave 5 = wave 1 right now ..... hehehehe and this is the most common result for the length of wave 5 especially given that the extended wave within the sequence was Wave 3. But the final arbiter is Moses, so let's wait and see if he parts the sea again? shown in chart s the superimposition calculation showing that wave five and wave one are identical in length - see blue grid Uploaded with ImageShack.us
Shown for your and my edification is the original configuration (on page 2) where I had marked the end of wave 3 as at the 50% Fib or thereabouts. Fast forward to today and the prev. few posts show that the original config. was the correct one.
Defcon 5 high alert readiness to go SHORT is now on for Wave (III) down but no trigger yet One short entry will be when the major uptrendline breaks. The upper shorter trendline is a possible short entry too, if broken but this is a wait and see for further info on clues. Uploaded with ImageShack.us
DOW/SP500 downtrend strengthens, confirming overdue correction is underway. Futs last 12,115 Ignore the fake trader trolls - longs be careful ! http://stockmarket618.wordpress.com
EurUsd quick chart update for now - got to take care of some urgent business, so will be back later in the day. Main point in this brief update is that I am very hesitant to make the SHORT call for Wave 3 just yet despite the fact that we are in Defcon 5. Yes, hitting the top channel line is a solid hint but its not enough for me. The only stable datum I have right now is the main uptrendline as stated before, break that and I go SHORT. As you can readily tell, I am applying my own strategic philosophy while the market throws me a zinger by going outside my TARGET BOX ... "never compromise with your own reality; Keep your own counsel Be your own advisor" So again bottomline is that without further clues I'm not willing to enter willy-nilly. Uploaded with ImageShack.us
Go SHORT if prices drop below the upper channel line with STOP 1% or so over the top. I haven't changed a thing - same chart, same grids etc. But Euro threw me a sybarite Euro went out of the Target Box and exceeded wave C = A. We are now at slightly past 161.8% X Wave A. The 23.6% Fib level is a tad higher and she could be headed there (reverse Fib grid shown). But there is a small, infinitesimal clue that was wired to me ..... is that a little triangle there just before the latest vertical rise on 1H? Go SHORT if prices drop below the upper channel line with STOP over the top. Uploaded with ImageShack.us
S&P500 updated chart at blog. This monthly chart show a series of broadening patterns, aka megaphone wedges. The three broadening formations pictured reveal an unstable market where buyers and sellers battle for control. The first two megaphones make clear the eventual victors. Prepare for the next Black Swan which will be 'unexpected and could never have been predicted' http://stockmarket618.wordpress.com
Thread opener revisited As stated in this thread's opener, no more than 3 people in the universe could have taken this shot. The "3 people" was an exaggeration. A CALL of this magnitude is reserved only for the derringdo of the solitary hunter/warrior and his name is deadbroke. And the dead one is laughing his ass off because EVERYONE AT ET KNOWS THAT TO CALL TOPS/BOTTOMS is IMPOSSSSSSIBLE Uploaded with ImageShack.us
Deadbroke does a quick review for his own learning purposes and of course for some mirth, a commodity in short supply as commodities in general are taking it in the 2-moon-junction The stupidity and what's worse, cowardice, of ET members exemplified http://www.elitetrader.com/vb/showthread.php?s=&threadid=219266&highlight=nonsense First we can take up a territorial adversary, well hardly an adversary for this one is a golden-maned lion named BlackBison. I can whup this clown with my eyes closed. And for the mods, when one opens the door to attacks, one becomes fairgame. Meaning the ones who don't attack, are spared the wrath of the dead one. ------------------------------------