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MR
mreiserer
Rep: 110
Posts: 2,220
This is a huge pattern which makes me a bit weary, but I'd be surprised not to see some kind of reaction here



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DU
Duane
Rep: 100
Posts: 1,095

Nice Chart M, We should be close.



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MR
mreiserer
Rep: 110
Posts: 2,220
I don't know what else you have there except the test of this line. I surely would like to see a downsloping line if I wanted to short this.
There is a sliding parallel coming in a bit higher from the large downsloping set I have shown which would make this a B=D.
The area of the TD has been clearly violated. Maybe it'll get to an EXP or the B=D.
MR
mreiserer
Rep: 110
Posts: 2,220
On the contrary this could have found it's bottom and just started a new uptrend. Looking at the downtrend we have somewhat of a 5 wave structure although the corrections were hardly in proportion. If this was just Wave 1 where could this thing possibly go to? Zero?
MR
mreiserer
Rep: 110
Posts: 2,220
Wonder if Duane did anything with this. It turned right at the 382 and 1.128 of the EXP. I couldn't come up with a line anywhere except what might be dubbed one of Jim's crazy trendlines. Then it went 400 pips to turn back to almost form a double top. Need some thick skin to sit through that...
DU
Duane
Rep: 100
Posts: 1,095
Hello M,

I did not get any of the first move down, but I caught some of the the next move down. It was a perfect ABCD at the median line.



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MR
mreiserer
Rep: 110
Posts: 2,220
wow, I don't think I would have noticed this as an ABCD. Nice.