Ewj: elliott wave

Wait for reversed Head and Shoulders pattern to complete then close long position. Wait for a lower low to sell short. Set stop at the last high.

 

Hold on to long position. Wait for shorting oportunity.

 

Hold on to long position. Wait for shorting oportunity.

 

Long position closed at Dow lower low and short position opened. Set stop at the last high.

 

thanks mup.....

....nice charts of yours... thanks....

.... as far as ending diagonals....
... please take a look at daily chart of e-mini euro fx .....
... starting oct 9 at 1.4035 low...

.... can it be...completing wave 3 of 5 now ?

thanks
noob ... respect....

 

Could we'll be in a wave 3 of an ED on 6E Z7..

Take a look at NVDA (daily) its other great example of the type of swift move once the 5th wave of an ED complete's... $39 to $33 nice

We could even be in an Ending Diag C wave on both the INDU and SPX if we get some more overlap again wave i might not be complete yet but I've doddled it complete for ease

 

...thanks so much for taking a look.
... yeah hopefully wave C has more downside......
.... hopefully we are not already in wave 3 up

oh.... how do you set your downside target for ED break down ?

thanks again....

 

The minimum target is a sharp decline retracing at least back to the level where the Ending Diagonal began. Ie the point at which wave i of the ED starts.

 

Thanks Mup.

I think another Ascending Wedge is developing, which may be the end of wave :c.

 

To Mup & elovemer

I think the worst case scenario is -820.3,-73.8,-135.86 points down from the last Friday high in the Dow, SPX, NASDAQ respectively, i.e., 12939, 1450, 2674.