- 金币:
-
- 奖励:
-
- 热心:
-
- 注册时间:
- 2006-7-3
|
|
楼主 |
发表于 2008-5-12 15:30
|
显示全部楼层
JimboFX
THANK you for putting up that chart. I am still stuck with 2 old long trades from the 1.99 levels. I managed to earn some from the moves yesterday prior to the news and a little more during the news doing scalps based on other systems.
I honestly am still looking for a clearer direction in my wave counts. This B of the BIGGER B seems to be playing out now as per the guideline found on PRECHTER"S book.
IN post # 3836 on page 456, I have explained part of my initial assesment on CABLE"S wave count believing that it was supposed to come down to 1.9545 still prior to going up to finish BIG "B" wave.
However, I still allowed some room for myself incase my count was in error when I started trading long even though 1.9545 was not yet achieved. this was 80% retrace of "A". HOWEVER, I just realized now that the minimum for a "B" to qualify as a "B" of a FLAT is at least 90% retrace of "A" as I review the guideline.
It was more like applying the guideline on the big "B" without applying the same guideline on the internal structure of the big "B" itself.
big "B" internal structure was /is supposed to be a flat or a triangle too. having finished a 3 wave structure up to 2.0396 from 1.9337 at nearly 61.8% retrace of big "A", this still cannot be the end of big "B" but most likely just the 1st leg of the whole structure.
SO a retrace down is inorder for the " b " of this big "B", which i thought was at 80% ( 1.9545 ) but now verified to be a must @ 90% retrace @ 1.9443 or lower down to 132.8% ( 1.8932 ) if this was an irregular FLAT.
I am now looking for an opportunity to go SHORT while my old longs are recovering.
HOPEFULLY , attached chart would be able to illustrate what I am saying here.
EG
PS.
Today may see CABLE move up to the DAILY PIVOT @ 1.9600 or up to 1.9653 @ the Murrey Math strong resistance level before it starts dropping again. something I use when I can't have a clear wave count on the lower time frames.
PS 2...
just a heads up for those watching patterns. a harmonic/PESAVENTO Bullish pattern is developing on the 4 hour chart which actually shows a potential reversal to the upside as early as 1.9530 level. and to as low as 1.9273
but with EW counts we could see that we can have that reversal as early as the 90% retrace @ 1.9443
Attached Images  |
|
|
[复制链接]
