Blog Archive

Wednesday, June 3, 2009

The M10 Kumo did not hold but it looks like the bottom of the M15 will. If I'm right we will head up toward the 980 target from here.

This next chart shows the larger count for the entire wave which I'm thinking is Primary B rather than Major A. In retrospect this wave was justifiably difficult to see. Major Waves A and B were labeled as Intermediate Waves A and B. When Intermediate Wave 1 unfolded it was the perfect trap for Elliotticians.

I honestly don't know how this could have been seen before hand. Even though other indicators were oversold the Bulls continued to keep the upper hand in spite of it all.

Once again the count appears to be clear and peaking at 980 will make this complete. So today I'm hoping we turn at 927 (50%) retrace of yesterdays Wave 3, and also the bottom of the M15 Kumo.

Otherwise it will be more about making the count fit the wave rather than predicting which tends to make me uncomfortable.

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

No comments:

Post a Comment

Today's Feature