Wednesday, September 29, 2010
UPDATE - NEW HIGH ON FUTURES - TRASH THE COUNT
This count has gone from being a trading idea to the EW that keeps on giving. Triple 3, with the last wave of the triple as a triple. I don't even know if that's allowed! Anyway, thought I would throw it up there to hopefully attract some flamers to tell me what an idiot I am, I deserve it.
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3 comments:
I think the retracement is too deep for the overall trend to be down. I believe the retracement is a complex B wave, soon to be followed by a C wave down. After that, higher prices.
But you could catch the C wave, that should be a nice move. Should go at least to the bottom of what you have labeled as the 1 wave.
From my experience, the biggest moves are from the deepest retracements. That's what is keeping me so interested in this until either a new high is made, or this count works. I need to be put out of my misery on this thing so it looks like next day or two will do it.
When you look at the history it will start making some sense. PA made all time high of 600 on impulsive move in march 08. Then A wave bottomed at 160 in Dec 08. B up (abc, a Apr 26 576, b 388 5/21, c 582 today). Now, Definitely a disastrous C is ahead of us. The question is, is it a Z correction from the all time high and we already started C, or it's an expanded flat correction and we are going to make a new all time high in the days. I think it's a Zigzag and C already started based on All-the-same-market theory.
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