Starting it off.
Al
RA
rat89
Rep: 0
Posts: 7,015
The proposed ew triangle on dia doesn't make sense now because the a or b leg needs to be the longest
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DU
Duane
Rep: 100
Posts: 1,095
Getting over sold. Let see if the next move is corrective or impulsive.
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AL
albert
Rep: 99
Posts: 3,094
rat and Duane,
You guys post the greatest charts. Thank you for sharing them. You guys are the greatest.
I had a hospital procedure day today, so I was busy. I am not posting much today, and hope to get back to normal or better posting soon.
Al :--)
Two mighty 0.886 fibos. I did not take any trades on this one, darn it. There was a 1234 Wait for It trade (not shown) located around the first 0.886 fibo, and one 1234 WFI shown around the 2nd 0.886 fibo retrace. I am trying to get the details straight in my head.
You guys post the greatest charts. Thank you for sharing them. You guys are the greatest.
I had a hospital procedure day today, so I was busy. I am not posting much today, and hope to get back to normal or better posting soon.
Al :--)
Click image for original size
Two mighty 0.886 fibos. I did not take any trades on this one, darn it. There was a 1234 Wait for It trade (not shown) located around the first 0.886 fibo, and one 1234 WFI shown around the 2nd 0.886 fibo retrace. I am trying to get the details straight in my head.
AL
albert
Rep: 99
Posts: 3,094
That big gap down on May 6 open would have made it very difficult to trade the earlier 1234 WFI I referred to. Had one entered a SELL on May 3 however, one could have made money, while facing overnight risk.
Al
Al
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Originally posted by albert
rat and Duane,
You guys post the greatest charts. Thank you for sharing them. You guys are the greatest.
I had a hospital procedure day today, so I was busy. I am not posting much today, and hope to get back to normal or better posting soon.
Al :--)
Click image for original size
Two mighty 0.886 fibos. I did not take any trades on this one, darn it. There was a 1234 Wait for It trade (not shown) located around the first 0.886 fibo, and one 1234 WFI shown around the 2nd 0.886 fibo retrace. I am trying to get the details straight in my head.
RA
rat89
Rep: 0
Posts: 7,015
thanks Al, I hope all is well with you?
spx - I hate to be a downer on the current short party.....this is how I see spx....until proven otherwise, there is an incomplete move that requires the fifth wave - wave Major [5]. I have put lines on the three up waves, and note that the third line is speculation as it has not occurred yet. Note that each one is shorter than the one prior....but we "know" that wave 3 of a primary move should be the longest wave, right?.....except in the case of an ending diagonal, where 5 < 3 < 1. Wave [5]=.382*[1] at 3015. External retracement of 2954 - 2836 = 1.27 at 2986, = 1.46 at 3008, and = 1.618 at 3026. YES the next cycle move down will be much larger than this move, BUT this is the move I see to play NOW. One trade at a time, regardless of the time frame you are in.
spx - I hate to be a downer on the current short party.....this is how I see spx....until proven otherwise, there is an incomplete move that requires the fifth wave - wave Major [5]. I have put lines on the three up waves, and note that the third line is speculation as it has not occurred yet. Note that each one is shorter than the one prior....but we "know" that wave 3 of a primary move should be the longest wave, right?.....except in the case of an ending diagonal, where 5 < 3 < 1. Wave [5]=.382*[1] at 3015. External retracement of 2954 - 2836 = 1.27 at 2986, = 1.46 at 3008, and = 1.618 at 3026. YES the next cycle move down will be much larger than this move, BUT this is the move I see to play NOW. One trade at a time, regardless of the time frame you are in.
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