Here's the updated chart. Notice that the pattern resolved within 1 bar of the anticipated retracement of w.v circle. If you missed last nights post that covered this scenario, you can read more at : http://elliottwavelive.blogspot.com/2011/04/market-pulse_06.html
One caveat... the sudden drop MUST confirm i.e. by making a five wave decline or the larger implied decline (w.3 circle) is flawed.
Let's watch the show.
Best of Trading
NOTE: I will be unavailable and offline from 12 pm est. for the remainder of the day session.
Post pattern anaysis reveals that the wave structure has NOT confirmed that an ending diagonal took place due to the fact that the personality of decline from 1335.25 was in three waves. In light of this, the larger trendremains up.
ReplyDeleteMike hoep your having nice wekend, was wondering if you could do something on the Dollar, current wave count, thanks.
ReplyDelete