NDX
#1
Posted 18 January 2007 - 05:56 PM
#2
Posted 18 January 2007 - 06:30 PM
Assuming that you're referring to the recent period, I guess it all depends if it's impulse to begin with....because of the impulse ?
And if this is indeed the case, how do you rectify the previous sideway action of November/December to make it fit?
Fib
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“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
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#3
Posted 18 January 2007 - 07:49 PM
Assuming that you're referring to the recent period, I guess it all depends if it's impulse to begin with....because of the impulse ?
And if this is indeed the case, how do you rectify the previous sideway action of November/December to make it fit?
Fib
Fib,
I'm basically working off a fractal idea from this time last year. Since today
had an impulse look to it, I think too much too quick, so maybe have a shorter
timeframe ABC down than last year and another push to near the highs or close.
If we go into lots of chop like last year that is fine with me, I like to trade that.
I don't think we make new highs though before completing some type of ABC down.
#4
Posted 19 January 2007 - 12:50 AM
Ahhh...now I see what you're seeing now. Good eye!Since today had an impulse look to it...I don't think we make new highs though before completing some type of ABC down.
What may work then is that it might be a simple 5 wave impulsive "C' wave structure. We could see a zig zag which would mimic last year, but if this is, in fact, wave "C" of an irregular flat from November, this would fit very nicely to what you're seeing unfold....all that would have to happen would be to replace 2006's wave B with wave (iv) this time around, and both your observations would then be satisfied.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions