An educational blogsite dedicated to teaching the Elliott Wave Principle, Fibonacci Ratio Analysis and Market Timing strategies.
Primary focus is on the E-mini S&P. Please read the risk disclosures contained within this blog.
Sunday, October 9, 2011
Heard on the Street: ES_F, DAX, CAC40, Australian All Ordinaries, Taiwanese SGX, Canadian Loonie, Swiss Franc
Hi Mike....great video again. One question on the CAD analysis....you indicate that a flat is unfolding where wave b is a typical 90% retrace of wave a but wave a is shown as a 5 wave sequence.....shouldn't it be a three if a flat is playing out? Thanks. Jim
Jim - My bad... You are correct in that I have w.A circle as a five wave decline and the assumption that a flat is unfloding would be an incorrect interpretation on my behalf. Direction is correct.
I will need to go back and look at the structure of w.A again because I'm fairly confident of w.B labeling but the retracement is too deep for an implied zig-zag.
Hi Mike....great video again. One question on the CAD analysis....you indicate that a flat is unfolding where wave b is a typical 90% retrace of wave a but wave a is shown as a 5 wave sequence.....shouldn't it be a three if a flat is playing out? Thanks. Jim
ReplyDeleteHello Mike, always enjoy your videos, great work !
ReplyDeleteThanks, Sam.
Jim - My bad... You are correct in that I have w.A circle as a five wave decline and the assumption that a flat is unfloding would be an incorrect interpretation on my behalf. Direction is correct.
ReplyDeleteI will need to go back and look at the structure of w.A again because I'm fairly confident of w.B labeling but the retracement is too deep for an implied zig-zag.
I'll post a corrected chart later today.
Thanks again.
Sam - thanks
ReplyDeleteGreat video, great work!
ReplyDeleteThanks, ndh