There was NO 4H close below $1,285, so there was NO short entry. No changes - close Long and go short on 4H close below $1,285
Well, gold just made a new high today. It looks like it's going to close solidly above 1300 (not just touch it and retreat). I wish there was a way to short government programs (payoff comes if they fail to achieve their stated goals). Think of the money I could have made shorting No Child Left Behind! Failing that, the best thing I can do is to stay long on gold.
Tsing Tao\right-click\trashcan permanently = no recourse. free country but I see your name, I just skip over, don't read it and hence no answer. Adios
If we get the 4H Short entry as per the above .... here are the other places where the Short will accelerate .... the 2 trendlines shown the LT m.a.s shown once below the 4H 200 m.a. @ approc. $1,241 Uploaded with ImageShack.us
I've never been able to do any good with EW counts. If others here can, more power to them. EW is beyond me I guess...
Don't let that bother you. Most EW users incl me fck up bigtime. Its a very difficult and abstruse subject. Personally I love it. Its a beauty but with a huge caveat - its underpinning must be regular basic TA. When the 2 match and confirm, there is no greater power. Where EW shines like a star is on the monthly timeframe and using the weekly/daily for timing. I'm still working on this combo and trying to improve it by incorporating simple basic TA into the package. EW presents maximum danger when applied to realtime.