Ewj: elliott wave

Scenario 2.
Minute 4)c.4 has ended. Friday was the beginning of Minute 4)c.5.
The Market is going to test the previous low.
Strategy 2.
Close long position at open and enter short "Short position".

 

Will rumors of rates cut help the Market defy all technicals, fundamentals and Elliott Wave counts.

http://money.cnn.com/2007/12/03/news/international/japan_economy.ap/index.htm
http://money.cnn.com/2007/12/03/markets/stockswatch/index.htm?postversion=2007120307

 

Long position closed.

 

Short position entered. Set stop at the last high.

 

Short position entered. Set stop at the last high. (12-03-07 9:57 PM)

Error: Due to late safe.

 

Stop out. Wait and see.

 

Enter short position again. Set stop at the last high. Set target at measured move from yesterday high.

(I think I'm doing a great disservice to Elliott Wave Principle lately. )
(I'm on the wrong side of the Market most of the time.)

 

Mu, why don't you just wait untill the easy set ups come along rather than being in the market all the time ??

At the moment the Market (ES) hasn't shown its hand yet.. It could be in 1 of 3 counts. I do favour a flat X wave at the moment but it still hasn't ruled out the othe two options yet such as being part of a Y for example..

 

A chart always helps.

This is the W-X-Y option ( with the flat x wave) To form a larger degree flat.

 

Or the Y wave option