Hi Jim,

Thanks for opening this Forum to your students and giving us an opportunity to show our charts and share our ideas.

Here is a chart of todays ABCD's in the russell. I will post a context chart later. Today was one of those days where the market changes direction on Jim's unique Fib numbers, Had you been trading with standard fib numbers you may not have noticed these PTA's. Is it me or is .564 becomming more and more prevalent?

Great chart. Goes right to the spot, time and price, within a more than reasonable level of accuracy, and bounces straight up. Now, what makes this so amazing? I mean, sure, it's amazing, but there is something that maybe most of you haven't thought of. Look at today's opening. OK, you are there, no other data on the chart. Now, from that perspective, think like you are almost standing on a mountain, and 'look down' at the area.

What do/did you think the chances are it would go right there and do what it did today? I bet not a lot of people 'saw this coming'. At what point on the path did you start to 'get ready'? Remember, all this was on the chart shortly after yesterday's opening. Now that's what I consider amazing, and that's why I like to sketch out several scenarios before I start my day. This surely had to be one of them, and after the gap ABCD, I felt it was almost a given.

I was watching that spot for several days based on the daily chart. What's amazing to me is how everything else that developed in the last couple of days came together at this point. It's like a magnet. Talk about synergy. These tools and Jim's methodology is the best there is and I know I'm not going out on a limb when I say this......wonder how many Elliot wave traders were watching that spot....

" they often appear in wave 2 "







I know what you mean Jim, but this pattern works so often and so well I just react!!

Downtown play

Jim, is this pattern what these two days had in common?
Both gapped up strong the next day.

Nice chart M!!

Nice pattern recognition Duane. The pattern looks like a chair tilting back.

Want to see another fantastic 1-min set? Build the set around your ABCD, but 'lock' it at the 12:33 low. I actually 'locked' mine at the first outer division line at 12:00, but adjusted it slightly at just after 12:33 when that swing was in. Post this with the two inner and two outer division lines on, and one lower warning line and four upper warning lines. Very interesting. Show all the data until the close.

WOW!!

thankyou duane i knew it was back there somewhere...