FTSE 100 Intraday - November

[Hooya]

mully thats a big wave 1....have you got a chart?

 

[mully]

Hope this helps

 

[Hooya]

cheers

 

[mully]

Well here we are at the bottom of wave C(i).

 

[hungrybear]

seems to blow away my theory of a flat

 

[Hooya]

hit bthe 60 min trendline, 61retrace of yesterdays range and cmc heavily discounted

 

[mully]

Update

 

[bonsai]

lol
so am I the only forecaster left in the field at 4320+ (or better)
?

 

[Hooya]

I do like this count as it looks so simple

 

[mully]

Possible problem with your "count". Peak of 4=4348, bottom of 1 =4337. Under EW rule 4 cannot exceed bottom of 1.

 

[Hooya]

I know...but I was looking at it from a purely chart point of view...a line chart does show the average concensus around any particular price level where as going on price only takes in the extremes. either way if we have made a 4 or something else we should move down shortly to test lows or make a higher low dont you think

 

[mully]

Bonsai,

i am not forecasting anything just pointing out if current move is labelled 4 then it has certain conditions attached to it. Trendlines are only valid if price respect them. I just wait until market signals its intention. However, I make sure I am aware of all potential support/resistance possibilities. It is how price reacts to them than gives clues to possible future developments.
The market does not know I exist. And I can do nothing to influence it. All I can do is control my behaviour (Elder)

Anyway we have already hit 4321.7.

 

[Hooya]

No Bonsai I closed a long from 94 at 13 a few moments ago..whent we hit the 20s....spread was a bit crap but I had decided where I was exiting when I made the trade so stuck to it

 

[bonsai]

cor' you're a hard man mully
I have drawn a line across the page

but in fairness I didnt call it a '1'

perhaps you need my charting system ?

 

[jojo]

On The bigger picture, where does anyone think we're going ?

 

[mully]

Bonsai,
All offers will be greatfully accepted.

 

[bonsai]

jojo
go back over some of the posts earlier today.
should give you what you want ?

 

[bonsai]

hooya
forget simple when it comes to wave counts
most people try that and it doesnt work so they give up
and call elliott a lot of bad names.

 

[Hooya]

always the party pooper

 

[Hooya]

Im getting my shorting glasses on...getting nice and overbought short term...and what ever the wave count I can see a move down shortly...now just need the price action to confirm this...a spike and rejection would be good.