interesting day yesterday
pushed up thru fib at 176 and then sat on it and used it as a base.
good sign of a strong market.
today has pushed thru my trend line
now looking up at 235
if the high yesterday was 'A' then the low was 'B' and we should now be in 'C'
"rapid climb" I referred to is still intact.
pushed up thru fib at 176 and then sat on it and used it as a base.
good sign of a strong market.
today has pushed thru my trend line
now looking up at 235
if the high yesterday was 'A' then the low was 'B' and we should now be in 'C'
"rapid climb" I referred to is still intact.
peter
there is an issue in that
my fibs are only valid if the last correction down to 82 is complete
as I am working on 4329/4082
one of the first signs I may be wrong, may come with the market ignoring one of my fibs.
but as we virtually gapped up thru' 176 , it looks like somebody knew it was there. so ok so far.
nb: A= say 120pts. if C=A then C=4296
there is an issue in that
my fibs are only valid if the last correction down to 82 is complete
as I am working on 4329/4082
one of the first signs I may be wrong, may come with the market ignoring one of my fibs.
but as we virtually gapped up thru' 176 , it looks like somebody knew it was there. so ok so far.
nb: A= say 120pts. if C=A then C=4296
hungrybear
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Hmm, gone through my target of 4216. Next target is 4233.
having looked at the waves for both the Ftse and the Dow, I think they're both doing expanded flat corrections. For the FTse, this means 5 waves down finished on the 26th and the move down to the 30th was a B-wave (it does seem to have just 3 waves).
I have seen other wavers with this count, though they all seem to have the move down to the 26th as 5 waves. I think it counts pretty well as 3 waves, which if correct means another impulse down then another retracement, so movement may be quite volatile within a wide range over the next few days. All IMO of course.
One thing I've noticed regarding my trading recently. I've been trading based more on wave count and instinct and it hasn't gone too well, the only decent call being a buy at the end of Tuesday as the Ftse was so far below its lower BB. If I'd traded mechanically I'd have done much better. When will I learn?!!
Answer: Now, or failing that when I'm broke
having looked at the waves for both the Ftse and the Dow, I think they're both doing expanded flat corrections. For the FTse, this means 5 waves down finished on the 26th and the move down to the 30th was a B-wave (it does seem to have just 3 waves).
I have seen other wavers with this count, though they all seem to have the move down to the 26th as 5 waves. I think it counts pretty well as 3 waves, which if correct means another impulse down then another retracement, so movement may be quite volatile within a wide range over the next few days. All IMO of course.
One thing I've noticed regarding my trading recently. I've been trading based more on wave count and instinct and it hasn't gone too well, the only decent call being a buy at the end of Tuesday as the Ftse was so far below its lower BB. If I'd traded mechanically I'd have done much better. When will I learn?!!
Answer: Now, or failing that when I'm broke
hungrybear
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Off topic:
I keep getting annoying adverts popping up on my screen. Does anyone know how to stop them appearing? I have Norton Internet Security but I can't see a way to set it to stop them.
I keep getting annoying adverts popping up on my screen. Does anyone know how to stop them appearing? I have Norton Internet Security but I can't see a way to set it to stop them.
Newtron Bomb
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get zone alarms pro or a pop up stopper from www.dowload.com
