Perfect Wave - 2010-10

Discussion in 'Technical Analysis' started by snowrider, Sep 25, 2010.

  1. Sorry about that! That's not what I intended to. I only wanted to add a link to where my original post was as a reference. I previously did not know how to post image from different site, so there were links only. Now I know to use img tag for images, and I have started posting images in that way. Because of this, readers no longer need to click on the web address to read my article.
     
    #11     Oct 12, 2010
  2. #12     Oct 14, 2010
  3. 10/19/2010 (Gold Update)

    So far, gold has been following 10/14/2010's intraday wave count and 10/16/2010's daily chart wave count with a good size of setting back to $1330 area, which was previous wave-__4. Now it may be forming the wave-_4. If so, next wave will be wave-_5 to challenge the all time high in order to form the wave-3 of this bull run.

    [​IMG]
     
    #14     Oct 19, 2010
  4. 10/21/2010 (Gold Update)

    Gold has shown 5 impulsive waves down, so it negated the assumption that the past few days was a corrective wave. With that said, I would like to change last week's alternative count to be the preferred one. It might not be a bad idea to establish short position if the market can bounce some 0.382-0.5 back.
    [​IMG]
     
    #15     Oct 21, 2010
  5. 10/23/2010
    Comments are welcome!

    EUR:
    [​IMG]

    SP:
    [​IMG]

    Gold:
    [​IMG]
     
    #16     Oct 23, 2010
  6. This is a poster child for why Elliot Wave is a useless methodology.
     
    #17     Oct 23, 2010
  7. Thanks for your input. Please share some of your useful approach!
     
    #18     Oct 24, 2010
  8. somehow, this is giving a sense of deja vu...

    Try this on for size - don't follow something you read in a book. backtest, walkforward test, and then test it with real money to prove it has value. Everything else is noise.
     
    #19     Oct 25, 2010
  9. Good point!

    I believe that trading by wave analysis is one of the hardest approaches to master. It's an art dude.
     
    #20     Oct 25, 2010