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发表于 2008-5-2 19:16
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I'm with Danish here. The reason I don't favor Justy's count is when looking at a wave 4, while its true, there is no set rules and guidelines regarding time correlations between wave 2 and 4, I do tend to see a correlation between the two. By going by this count, you could see wave 2 and 4 both lasted 12 months. Justy's count has wave 2 lasting 12 months but wave 4 lasting only 6. Like I said, (before anyone jumps down my throat) I realize thee are no fixed rules and guidelines, but from my experience, this correlation happens way too often to ignore.
Also, that would put us in wave 5. A common fib level for the end of wave 5 is 162% of wave 4. That brings us to 4917. We have yet to close above this level. Another common fib level (which is the next in line) is 62% of wave 1 to 3 projected from wave 4. That brings us to 1.5095 so if we go to new highs, Id keep an eye on that level. Either way the last 2 line you see from the top (162% of wave 4 and 62% of waves 1 to 3) is a hot sopt for a reversal zone in my opinion.Attached Thumbnails
To Danish and Justy, my bad. I was a little sloppy on my analysis. Actually your both right so I will use this post to address you both.
Justy, Your are right, wave 4 is 5 waves down. That means that for my count to be correct, wave 3 actually would have to end with a truncated v of 5th wave which is still my favored count. (contrary to what people believe truncated 5ths are as much a part of EW as zigzags). So this is the only answer I have for you for now.
Danish, because wave 3 does indeed have a truncated 5th according to my count, I have to by default, adjust my fib level of 62% of wave 1 to 3 accordingly. This now brings us to 4845. (This is the cool part: Last months close wave 4847 and this months open was 4846. Also we are well on our way to having a bearish engulfment for the month...yes I know we have a little while before the month is over...but the numbers are still staggering...) Now, with these new price levels in place, I have a stronger belief that we may indeed have top.
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