MoneyTec.com Traders Community Forum - View Single Post - TRADING FORK EXTREMES

golhuntsleep · 21-07-2007, 20:36

4070 or so is where wave 5 will have equallity with wave 3....wave 1 is larger than wave 3 so, using elliot rules, that wave 3 cannot be the shortest.....the closer we get to 4070 the more I will be willing to locate the top......a break of that level would force me to find an alternative count and that would be that we are still in a 3rd wave of this last move....which is completely possible considering that summer trading is almost upon us and the range trading that we normally see make up 4th waves..........my hunch is we'll break 4070 and do our normal range trading till Labor day make a last surge and then see the dollar recover dramatically......just trying to find the right mix of timing and price.....

21-07-2007, 20:36	#118 (permalink)
golhuntsleep level 2 Join Date: May 2006 Posts: 649 Rep Power: 3	Re: TRADING FORK EXTREMES – 3 month Setups. 4070 or so is where wave 5 will have equallity with wave 3....wave 1 is larger than wave 3 so, using elliot rules, that wave 3 cannot be the shortest.....the closer we get to 4070 the more I will be willing to locate the top......a break of that level would force me to find an alternative count and that would be that we are still in a 3rd wave of this last move....which is completely possible considering that summer trading is almost upon us and the range trading that we normally see make up 4th waves..........my hunch is we'll break 4070 and do our normal range trading till Labor day make a last surge and then see the dollar recover dramatically......just trying to find the right mix of timing and price.....