you short eu, and tarhet is the 5 on 4 hour chartIgnored
DislikedPeople are putting up really good counts - keep 'em coming!
CG, looking at your GU analysis charts got me interested. I ran some fib projections and the results are below. GU 2nd waves foreshorten everytime, so my idealized projection of 'common wave relationships' correspondingly falls short for waves 3,4 and 5 by the same distance whereby wave 2 is short of its target:
Intermediate wave down from Jan 2013 top
common wave relationships:
wave 1:16382 to 15675
wave 2 zigzag retraces .618 : 16111 (actual: 15845...Ignored
DislikedVenzen, nice work as usual!
Did you see the latest GU post on my blog? Basically i'm cautious right now and have stated the same as you just have, we have already reached 138.2% of wave 1 for the 3rd... more important than ever to watch smaller timescales. Of course, we still have the 5th to come yet to save any poor short entries!Ignored
DislikedGood idea about saving the shorts
Yes, saw your latest GU blogposting - that's where I got the idea to peer into the future and "see" the end of wave 3. MACD and divergence only helps so much, and PA is confusing. Upward PA right now is ambiguous: could be corrective to the latest blast down or it could be the start of wave 4. Let's see.
edit: I'm hoping for more downside for the sake of satisfying the "common wave relationships" fib levels. This will also make further wave projection possible - and with more confidence...Ignored
DislikedThis chart shows both normal and reverse (hidden) divergence in the recent GU wave 3 down. It is common knowledge that divergence correlates to elliott wave counts, especially between waves 3 and 5. Here is a practical example.
GU is a tricksy pair. I think of GU as Gollum. Nasty surprises, channel hopping, deception and sometimes sweet as can be: respecting S/R and honoring indicators. Real ol' Slinker and Stinker. Yet, even so, EWP always applies and (at the moment) the indicators don't lie.
Firstly, notice how the Fib projections of subwave...Ignored
Why use MACD 3 13 8 ?Ignored
DislikedAnyone Trading GJ...? I am having a killer EW Sequencing going down over here...Ignored