And now the most important re-worked wavecount, i.e. the Dow Jones daily chart count all the way from the 2007 top ...... CALL: Top of March 2009 rally is imminent. Break that daily trendline and top is confirmed. There is NO take profit and reverse scenario. Once the short fires, hold position for months and months. If this is correct, we will witness BEAR's awesome power to the downside.
CALL on Australian Dollar versus US Dollar: Trend is still up but reversal expected so therefore .... Go Short AUDUSD if/when daily close below 0.90387 occurs, i.e. if the horiz. purple line at extreme right of chart is broken to the downside. Uptrendline from March 2009 will be busted before the above signal.
Q.E.D. It works beautifully. But it could also just be a fluke, so I shall bring this up more and more over time with different scenarios with various instruments and look for universal validity.
The above quote is from page 2 - it really is a beautiful thing to be able to go back and see one's own thoughts at difficult junctures - I'm really pleased that I didn't give in to the trendline break back then, but opted instead for the wave low as the arbiter. Later action gave a very small violation and its more than likely I would not have stumbled and quit the Long because the violation landed right on the 200-day m.a. I would have waited. And the trend just continued up nicely thereafter.
----------------------------------------------- Here then is the updated Nas vs S&P chart showing the very tiny violation that occurred right on top of the 200 m.a., then the bounce and continuation.
could I/would I have been able to withstand the trendline break on 60-min. (see chart below) and stayed LONG because my wave low was NOT yet taken out? Based on my forex thread the answer would be, "NO" But maybe I've improved now? We won't know this for sure until I'm ready to re-do a new forex thread (when I'm ready) and have a closing ratio of 75%++ winning trades (my goal). In the chart I've left everything as-is to show exactly my thought processes at that moment.
The Nipponese N_225 Index Wave III up started at the US Great Depression low around 1931-32 and topped out Dec 1989 - Wave IV down aka the Deflation wave is ongoing. Target expected in the 4th of 3 zone around 475 -1860.
Nipponese Nikkei daily chart currently at 38.2% retracement EDT i.e. Ending diagonal Triangle with throw-over says it all. I still have a 11,491 target that has not yet been hit. We are in the 5th of 5 so at or near the top.