They are just soooo Cute !
Happy now Merlin?!?!
- #741
- Oct 10, 2008 9:25am Oct 10, 2008 9:25am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Happy now Merlin?!?!
- #742
- Edited 5:40pm Oct 11, 2008 5:28pm | Edited 5:40pm
- | Joined Aug 2007 | Status: History & Economic Cycles | 204 Posts
Thanks for the Bear picture, great image! 
The Bears have been awoken from hibernation and are looking to slaughter herds of Bulls too foolish and arrogant to step aside.
The chart posted below is for the benefit of those that are wise enough to leave their egos behind, and enjoy trading a strong down trend for years to come. This is what happens when cycles that have taken 310 years, 87 years, 34 years, 21 years, and 8 years climaxed in 2000, and are now due for an equally large correction. If this brings out feelings of denial or anger, those are the first two steps in dealing with grief, you'll get over. Don't bother flaming me, it is not my problem.
So, if you have any delusions about things ‘getting better’ anytime soon out there - think again.
My apologies if I ruined your day by posting this, but the sooner you start making changes in your life the better you will be prepared further down the line as we are heading into the next Great Depression.
The shorting opportunity has been awesome and is far from over, I'll still bank profits and even play expected counter-trend rallies, but the bottom is measured to be 2014. Why?
"Wave 5 of (3) will be nearly as bad as wave 3 of (3). After that we get a period of recovery, which will be wave (4) and some people will naturally confuse that with the beginnings of a new bull market. That might go on for a few months and then will be rudely interrupted by wave (5) of primary 1. This one will be ugly and it’ll take the averages down by at least 2000 points. And remember that we have 4 more primary waves to go - this is only primary wave 1 of cycle wave c. This bear market is just getting warmed up, and is not going to end until about 2014" - evil speculator
The Bears have been awoken from hibernation and are looking to slaughter herds of Bulls too foolish and arrogant to step aside. The chart posted below is for the benefit of those that are wise enough to leave their egos behind, and enjoy trading a strong down trend for years to come. This is what happens when cycles that have taken 310 years, 87 years, 34 years, 21 years, and 8 years climaxed in 2000, and are now due for an equally large correction. If this brings out feelings of denial or anger, those are the first two steps in dealing with grief, you'll get over. Don't bother flaming me, it is not my problem.
So, if you have any delusions about things ‘getting better’ anytime soon out there - think again.
My apologies if I ruined your day by posting this, but the sooner you start making changes in your life the better you will be prepared further down the line as we are heading into the next Great Depression.
The shorting opportunity has been awesome and is far from over, I'll still bank profits and even play expected counter-trend rallies, but the bottom is measured to be 2014. Why?
"Wave 5 of (3) will be nearly as bad as wave 3 of (3). After that we get a period of recovery, which will be wave (4) and some people will naturally confuse that with the beginnings of a new bull market. That might go on for a few months and then will be rudely interrupted by wave (5) of primary 1. This one will be ugly and it’ll take the averages down by at least 2000 points. And remember that we have 4 more primary waves to go - this is only primary wave 1 of cycle wave c. This bear market is just getting warmed up, and is not going to end until about 2014" - evil speculator
Thanks for the Bear picture, great image!
The chart posted below is for the benefit of those that are wise enough to leave their egos behind, and enjoy trading a strong down trend for years to come. This is what happens when cycles that have taken 310 years, 87 years, 34 years, 21 years, and 8 years climaxed in 2000, and are now due for an equally large correction. If this brings out feelings of denial or anger, those are the first two steps in dealing with grief, you'll get over. Don't bother flaming me, it is not my problem.
So, if you have any delusions about things ‘getting better’ anytime soon out there - think again.
My apologies if I ruined your day by posting this, but the sooner you start making changes in your life the better you will be prepared further down the line as we are heading into the next Great Depression.
The shorting opportunity has been awesome and is far from over, I'll still bank profits and even play expected counter-trend rallies, but the bottom is measured to be 2014. Why?
"Wave 5 of (3) will be nearly as bad as wave 3 of (3). After that we get a period of recovery, which will be wave (4) and some people will naturally confuse that with the beginnings of a new bull market. That might go on for a few months and then will be rudely interrupted by wave (5) of primary 1. This one will be ugly and it’ll take the averages down by at least 2000 points. And remember that we have 4 more primary waves to go - this is only primary wave 1 of cycle wave c. This bear market is just getting warmed up, and is not going to end until about 2014" - evil speculator
Attachment
Speaking of delusions, the chart below comes from the same source as the one above (elliotwaves.com). Here we have a very scientific approach (2005) where the DJIA is already in the gutter in 2007. The author simply selects a chart from 1937-1938 that looks similar, does a wave count on the then current (2005) DJIA chart and put the bottom 2 years away in 2007 (at around 1000 presumably). Ladies and gentlemen, this is the accuracy of EW.
http://www.nowandfutures.com/downloa...07%20crash.png
Even Prechter (although I agree with much of his fundamental analysis, more than any commentor) missed the last leg (3 years!) of the OIL and GOLD bull markets (he thought they toped out in 2006). Why? Because there are fundamental forces at play that EW does not always account for. Even master EW counters like Prechter can't always predict what will happen next and to what extent. EW clearly has short comings. So what makes you think that you can use EW in this most complex time, and forcast a bottom in 2014?
Am I saying that we going to enter a fresh bull market anytime soon? Absolutely not! However, I think this decline will play out much faster than most think. After that we are looking at a very slow incline. But giving the exact year of the ultimate bottom? Impossible.
- #744
- Oct 12, 2008 2:49am Oct 12, 2008 2:49am
- | Commercial User | Joined Mar 2008 | 9,090 Posts | Online Now
Thanks for the Bear picture, great image!
The chart posted below is for the benefit of those that are wise enough to leave their egos behind, and enjoy trading a strong down trend for years to come. This is what happens when cycles that have taken 310 years, 87 years, 34 years, 21 years, and 8 years climaxed in 2000, and are now due for an equally large correction. If this brings out feelings of denial or anger, those are the first two steps in dealing with grief, you'll get over. Don't bother flaming me, it is not my problem.
So, if you have any delusions about things ‘getting better’ anytime soon out there - think again.
My apologies if I ruined your day by posting this, but the sooner you start making changes in your life the better you will be prepared further down the line as we are heading into the next Great Depression.
The shorting opportunity has been awesome and is far from over, I'll still bank profits and even play expected counter-trend rallies, but the bottom is measured to be 2014. Why?
"Wave 5 of (3) will be nearly as bad as wave 3 of (3). After that we get a period of recovery, which will be wave (4) and some people will naturally confuse that with the beginnings of a new bull market. That might go on for a few months and then will be rudely interrupted by wave (5) of primary 1. This one will be ugly and it’ll take the averages down by at least 2000 points. And remember that we have 4 more primary waves to go - this is only primary wave 1 of cycle wave c. This bear market is just getting warmed up, and is not going to end until about 2014" - evil speculator
Attachment
DJIA @ 2014???
U r getting ridiculous for this one...Buddy
Sonic
- #745
- Oct 12, 2008 4:16pm Oct 12, 2008 4:16pm
- | Joined Aug 2007 | Status: History & Economic Cycles | 204 Posts
So what makes you think that you can use EW in this most complex time, and forcast a bottom in 2014?
Am I saying that we going to enter a fresh bull market anytime soon? Absolutely not! However, I think this decline will play out much faster than most think. After that we are looking at a very slow incline. But giving the exact year of the ultimate bottom? Impossible.
Second, wave structure is the most important aspect - not dates. However, date targets more often than not have Fibonacci relationships. I suggest you study Fibo. Targets only provide guidelines for relationships to determine objectives, so a trader can gauge progress.
Third, can you back up the statement the Prechter missed the call for Golds move up a few years ago? Because I have when the EWI precious metals team said it was the last move of the Gold bull, and called the turn to bear the week it happened. So post your proof please.
- #746
- Oct 12, 2008 4:21pm Oct 12, 2008 4:21pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
- #748
- Edited 6:14pm Oct 12, 2008 5:43pm | Edited 6:14pm
- | Additional Username | Joined Oct 2007 | 133 Posts
First, the 2014 date is not from Prechter - you assumed that incorrectly, (although Prechter says 2015), it is from Evil Speculator. The source was quoted.
A third independent firm puts the bottom at 2016 based on demographics, I'll expand on that later. 3 experts say 2014 to 2016 with reasoning, and there are more. Where is your reasoning?
1. I'd like to hear more about that. There are theories based on demographics what predict the DJI above 14,000 in the next 5 years as well (i.e. Harry S. Dent)
2. Reasoning for what? I said that it is impossible to nail the exact year. So why should I provide reasoning for a claim I never made and don't think can be made.
Second, wave structure is the most important aspect - not dates. However, date targets more often than not have Fibonacci relationships. I suggest you study Fibo. Targets only provide guidelines for relationships to determine objectives, so a trader can gauge progress.
I'm sure it is, but we all have different methods. We learn what works for us.
Third, can you back up the statement the Prechter missed the call for Golds move up a few years ago? Because I have when the EWI precious metals team said it was the last move of the Gold bull, and called the turn to bear the week it happened. So post your proof please.
You have what? I don't quite understand what you have written there. Reformulate please?
As for proof, no problem:
http://en.wikipedia.org/wiki/Robert_Prechter#Criticism
"Recently, Prechter has missed the latest portions of the rally in gold and oil. In July 2006 he asserted that gold had reached its peak and that oil, then around $70 bbl, also had peaked in price. His analysis was clearly flawed, as oil in late May 2008 reached $135 bbl and gold was at $925/ounce. [17]"
Click on the footnote for the original source.
EW analysis the ultimate analysis tool? Clearly not!
FxOffshore,
Before you think I'm just here to only to argue my own position, let me clear a few things up.
1) I firmly believe that most of the progress in the DJIA since 1995 has been as close to an illusion as it gets (while having very real and serious consequences later on). Even in the run up to 1929, the P/E wasn't this sky-high. Something is clearly very wrong.
2) The bottom in 2003 was pure manipulation by hedge funds. It was at exactly this time that their exposure rose in proportion to their assets (i.e. use of extreme leverage).
3) The reasons for the above two were in my opinion not just due to greed, but ultimately political (not important for the discussion, but heck, why not).
I also greatly respect Prechter's abilities and could only hope to reach his level one day. HOWEVER, he stated that 2003 would be the best year for shorts. This obviously did not happen. So, why did he was a wrong? I am sure that his wave counts are as good and professional as they get. But at the same time, since we are analyzing a manipulated environment, I don't think that EW can be accurate at all. I don't think this can be made any clearer then I have explained it, especially when it comes to long term predictions.
Prechter said that the bear would continue in 2003, then he said it would start again in 2005, then he finally nailed it in 2007. I mean, If you throw enough darts at a target you will eventually hit the center...
Now, if he (the master) can't use EW to predict movements that are accurate within 4 years, how can anyone else!?
I think this puts to rest any doubt that EW can't accurately predict what is going to happen, no less when.
All the best!
rudenstein
Before you think I'm just here to only to argue my own position, let me clear a few things up.
1) I firmly believe that most of the progress in the DJIA since 1995 has been as close to an illusion as it gets (while having very real and serious consequences later on). Even in the run up to 1929, the P/E wasn't this sky-high. Something is clearly very wrong.
2) The bottom in 2003 was pure manipulation by hedge funds. It was at exactly this time that their exposure rose in proportion to their assets (i.e. use of extreme leverage).
3) The reasons for the above two were in my opinion not just due to greed, but ultimately political (not important for the discussion, but heck, why not).
I also greatly respect Prechter's abilities and could only hope to reach his level one day. HOWEVER, he stated that 2003 would be the best year for shorts. This obviously did not happen. So, why did he was a wrong? I am sure that his wave counts are as good and professional as they get. But at the same time, since we are analyzing a manipulated environment, I don't think that EW can be accurate at all. I don't think this can be made any clearer then I have explained it, especially when it comes to long term predictions.
Prechter said that the bear would continue in 2003, then he said it would start again in 2005, then he finally nailed it in 2007. I mean, If you throw enough darts at a target you will eventually hit the center...
Now, if he (the master) can't use EW to predict movements that are accurate within 4 years, how can anyone else!?
I think this puts to rest any doubt that EW can't accurately predict what is going to happen, no less when.
All the best!
rudenstein
- #752
- Edited 1:57am Oct 13, 2008 12:00am | Edited 1:57am
- | Joined Aug 2007 | Status: History & Economic Cycles | 204 Posts
Rude nstien - I think you are new and grasping for something, but it is not found by attacking reasonable methods.
No one said they have the Holy Grail for Forex. Any one can pick holes through tech-a, fundi-a, or sent-a, and it has all been said before. (I use all three combined).
Your argument that Prechter, for all his genius, has made some errors in long term calls since 1979 does not discredit Elliot Wave or Prechter, look at his huge list of calls he has nailed and his huge contribution to this industry. He is human, so are we all. He has made a list of major calls when the pundits were saying the opposite, where it counts - in real time - today. For example when Fannie Mae peaked about 6 years ago, or Real Estate in 2003 when media was saying there was no end to the boom, he called the top and the turn and what to expect on the downside, including bail outs. Imagine if Bernanke was reading EWI, we might not be in this crisis! In short, trading is all about putting probabilities on your side, not perfection.
The toughest calls are the ones furthest out, because the form can change, but the structure or frame work is there. That is not how EW is used in trading, it is prognosis. You say 'impossible to know' - but you are using an absolute. How can you say it is impossible? How can you say it is impossible when it is done on a regular basis. Some traders who use Fibos know what I mean, will the pip stop at 1.68 expansion? Maybe, close is good enough for me. Fibonacci and Elliott wave have so much in common, and even some with DOW Theory or Kondratieff, so if you want to prove nothing works apart from candles and S&R, why do you follow me around FF trying to prove how smart you are? (and not attack Grega the EW guy at LFB, the EW thread, or the Fibonacci thread.)
When I use EW it is for more immediate purposes (today, this week), that you cannot do with candles, such as plan an entry, plan the stop loss/risk, target the exit prices, and the alternates of what could happen. It works for me, and more than 10 thousand others, so having a rookie dismiss it is asinine. I added more than 40% to my account last week, and have over 75% profitable trades with my method.
I see from your posts you trade by candles with S&R and on a demo account, and critic everyone except your Mentor (who does not understand EW, he looked at it briefly when he was a rookie, and puts it down in order to sell his materials). If you have the Holy Grail, kindly offer something constructive about your perfect trading system?
I hope some day that you overcome your intolerance, and find a trading style that works for you. Perhaps I'll be able to buy your books or find your hall of fame history on Wikipedia. Good trading to you!
No one said they have the Holy Grail for Forex. Any one can pick holes through tech-a, fundi-a, or sent-a, and it has all been said before. (I use all three combined).
Your argument that Prechter, for all his genius, has made some errors in long term calls since 1979 does not discredit Elliot Wave or Prechter, look at his huge list of calls he has nailed and his huge contribution to this industry. He is human, so are we all. He has made a list of major calls when the pundits were saying the opposite, where it counts - in real time - today. For example when Fannie Mae peaked about 6 years ago, or Real Estate in 2003 when media was saying there was no end to the boom, he called the top and the turn and what to expect on the downside, including bail outs. Imagine if Bernanke was reading EWI, we might not be in this crisis! In short, trading is all about putting probabilities on your side, not perfection.
The toughest calls are the ones furthest out, because the form can change, but the structure or frame work is there. That is not how EW is used in trading, it is prognosis. You say 'impossible to know' - but you are using an absolute. How can you say it is impossible? How can you say it is impossible when it is done on a regular basis. Some traders who use Fibos know what I mean, will the pip stop at 1.68 expansion? Maybe, close is good enough for me. Fibonacci and Elliott wave have so much in common, and even some with DOW Theory or Kondratieff, so if you want to prove nothing works apart from candles and S&R, why do you follow me around FF trying to prove how smart you are? (and not attack Grega the EW guy at LFB, the EW thread, or the Fibonacci thread.)
When I use EW it is for more immediate purposes (today, this week), that you cannot do with candles, such as plan an entry, plan the stop loss/risk, target the exit prices, and the alternates of what could happen. It works for me, and more than 10 thousand others, so having a rookie dismiss it is asinine. I added more than 40% to my account last week, and have over 75% profitable trades with my method.
I see from your posts you trade by candles with S&R and on a demo account, and critic everyone except your Mentor (who does not understand EW, he looked at it briefly when he was a rookie, and puts it down in order to sell his materials). If you have the Holy Grail, kindly offer something constructive about your perfect trading system?
I hope some day that you overcome your intolerance, and find a trading style that works for you. Perhaps I'll be able to buy your books or find your hall of fame history on Wikipedia. Good trading to you!
- #753
- Oct 13, 2008 1:42am Oct 13, 2008 1:42am
- | Joined Aug 2007 | Status: History & Economic Cycles | 204 Posts
Here is an article from Teun Draaisma, Morgan Stanley’s European strategist who wrote a book, Anatomy of the Bear, after a study of 100 years of bear markets.
His date: 2014
The Kondratieff Long Wave analysis people also put 2015 as a cycle date based on repeated patterns for 200 years.
His date: 2014
2. Equities become cheap slowly. The average duration of bear markets has been 14 years, with the much more rapid 1929-32 episode, when equities went down 89%, the exception. Today’s message: we are in year 8 of a 14 year bear market.
source: http://ftalphaville.ft.com/blog/2008...draaisma-land/
The Kondratieff Long Wave analysis people also put 2015 as a cycle date based on repeated patterns for 200 years.
In short, trading is all about putting probabilities on your side, not perfection.
You asked for proof, I gave it, now you feel cornered and get nasty. Can your EW predict such behavior?
Not at any point do you address my points directly, as I have with you. I find that very suspicious. I have tried to resume a serious discussion and all you really do can do is attack my 'status' as a trader. This is as noobish an act as can possibly be. Very defensive.
You talk about probabilities and not perfection, but your extreme conviction that the DJIA will reach 1970s prices is in that light a bit foolish isn't it? It was shown that even Prechter blew it in 2003, 2005, and 2006 with Gold/oil. A theory that fails this often under a mastern cannot be reliable. (But of course, he has books and services to sell). You all you can do is keep pushing your prediction of DOW at 500. It is clear that EW isn't even close to perfection, yet you act as if it were the holy grail can keep sticking it in peoples faces whenever they bring forward another theory. Talk about intolerance!
As for my trading. No, I don't trade short term, or on leverage like most here. I have enough funds, to not require leverage.
Enough said.Btw, at no point did I push candlestick theory. Also I have no mentor. This is all only in your mind. Very sad indeed.
Here is an article from Teun Draaisma, Morgan Stanley’s European strategist who wrote a book, Anatomy of the Bear, after a study of 100 years of bear markets.
His date: 2014
The Kondratieff Long Wave analysis people also put 2015 as a cycle date based on repeated patterns for 200 years.
3. Sentiment is not hugely negative at the bottom of the bear market. The popular myth that there are no bulls left at the bottom of the bear market is wrong. Many market commentators are correctly bullish right at the bottom of the bear market. Popular myth has it that talk of ‘equities are dead’ and ‘there is no future for equities’ should be widespread and are classic signals of the end of the bear market. This is far from the truth, it turns out. In related fashion, there is no climactic last and final sell-off on high volumes. Quite the contrary, the final slump is on lower and lower volumes. Subsequent higher volumes at higher levels confirm the bear market is over, with hindsight. Today’s message: do not take any ‘contrarian comfort’ from the fact that many people are quite bearish on the macro outlook, contrary to conventional wisdom, that is not a classical sign of a bear market trough.
http://www.forexfactory.com/showpost...92&postcount=7
- #756
- Edited 6:14pm Oct 13, 2008 2:18pm | Edited 6:14pm
- | Joined Aug 2007 | Status: History & Economic Cycles | 204 Posts
Rude nstein - I have been enormously patient to discuss the 2014 - 2016 bottom estimation quoted from Evil Speculator, so I gave you 5 different back up opinions from experts in analysis for the same dating issue, all in the same range. Plus I'll expand on the demographic one this week for the benefit of others. All you gave me was one slur opinion taken out of context in a radio interview about gold or oil showing a top before deflation kicks in, did you even read that interview you referenced. Perhaps you could try to understand something from learning it first, before putting it down, just a suggestion. This is heckling, and has no place here at FF forum.
If you have problems with Evil Speculator, Prechter, or Morgan Stanley take it up with them, I made my point that needs no defense, I have nothing to prove to you. My trading is not based on Prechter, he is an input, but does not send me trade signals, I write my own trade plans from my own experience and wide range of sources.
As for you, I am still waiting for your trading method. I am all ears, tell us what you know from your demo trading experience. I fully acknowledge I can be wrong, and can learn from the most unlikely sources. Now put up....
If you have problems with Evil Speculator, Prechter, or Morgan Stanley take it up with them, I made my point that needs no defense, I have nothing to prove to you. My trading is not based on Prechter, he is an input, but does not send me trade signals, I write my own trade plans from my own experience and wide range of sources.
As for you, I am still waiting for your trading method. I am all ears, tell us what you know from your demo trading experience. I fully acknowledge I can be wrong, and can learn from the most unlikely sources. Now put up....
All you gave me was one slur opinion taken out of context in a radio interview about gold or oil showing a top before deflation kicks in, did you even read that interview you referenced.
Are you refering to Prechter's prediction about gold/oil in 2006? He admitted on TV that he messed that one up. Case closed. Peroid.If you have problems with Evil Speculator, Prechter, or Morgan Stanley take it up with them, I made my point that needs no defense, I have nothing to prove to you. My trading is not based on Prechter, he is an input, but does not send me trade signals, I write my own trade plans from my own experience and wide range of sources.
As for you, I am still waiting for your trading method. I am all ears, tell us what you know from your demo trading experience. I fully acknowledge I can be wrong, and can learn from the most unlikely sources. Now put up....
Put up? Put up what? You said that you have nothing to prove to me... the feeling is mutual. I never said that I would share my trading method...
Btw, all I'll say is that there is no demo trading for cash only trades. I hold trades for sometimes longer than a year. Too boring, huh? But guess what, I'll last longer than you will.
Btw, you said that I have a mentor... whom are you refering to?
- #758
- Edited 5:22pm Oct 14, 2008 5:10pm | Edited 5:22pm
- | Joined Aug 2007 | Status: History & Economic Cycles | 204 Posts
I never said that I would share my trading method...
Btw, all I'll say is that there is no demo trading for cash only trades. I hold trades for sometimes longer than a year. Too boring, huh? But guess what, I'll last longer than you will.
It is a fact that anyone can open 1:1 using MetaTrader4 or many other platforms, as you can see from the setup screen shot below:
I also trade big money in 1:2 - over long time periods, for example I will re-enter Oil by dollar cost averaging, as a hedge against falling fiat currencies, without worry about being shaken out of a position at $79 on October 14th 2008. Odd you would be so judgmental???
You say you are a Chartist, would you please show us some of your big money demo trade charts with some market insight? Please?
I wish as much success for you as I have had, and more. May you be blessed, and may you someday bless others!!!
Forums are a community, and they benefit from people who give back.
Oh really?
It is a fact that anyone can open 1:1 using MetaTrader4 or many other platforms, as you can see from the setup screen shot below:
You are certainly going to a lot of trouble and using a lot of time to prove me worng. Are you that desperate? If you think I'm a liar, fine. I don't really care. What matters is my accout size and wallet, not your accusations.
I also trade big money in 1:2 - over long time periods, for example I will re-enter Oil by dollar cost averaging, as a hedge against falling fiat currencies, without worry about being shaken out of a position at $79 on October 14th 2008. Odd you would be so judgmental???
Judgemental? About what? Good luck with your trade.
But if major deflation is your thing (as it has been going by your posts) I don't think that oil would be a smart bet. DJIA at 70s levels and oil higher than $80? You have absolutely no idea what you are doing.
You say you are a Chartist, would you please show us some of your big money demo trade charts with some market insight? Please?
Why would you want maket insights from somebody you called noob? Makes no sense does it.
I trade via banks, no demo charts there. But I so use MT4 for charting, if that is what you mean.
I wish as much success for you as I have had, and more. May you be blessed, and may you someday bless others!!!
Amen to that!
- #760
- Oct 15, 2008 12:06am Oct 15, 2008 12:06am
- | Joined Aug 2007 | Status: History & Economic Cycles | 204 Posts
Profits were banked big time on Friday, and the expected counter-trend rally was warmly welcomed as another opportunity to short again soon.
The latest interventions over the weekend have shown disappointment from the market. I look for 'tells' carefully the day after a relief rally, and the market dropped rather than continued to rally.
I do expect another small wave higher to at least add more time to minor wave 4, but keep under the channel resistance, before the fall continues in wave 5. Expectations here are along the lines of the green squiggles into the next few days, with a firmly set new low target after Oct 20 fibo time estimation. Good trading
The latest interventions over the weekend have shown disappointment from the market. I look for 'tells' carefully the day after a relief rally, and the market dropped rather than continued to rally.
I do expect another small wave higher to at least add more time to minor wave 4, but keep under the channel resistance, before the fall continues in wave 5. Expectations here are along the lines of the green squiggles into the next few days, with a firmly set new low target after Oct 20 fibo time estimation. Good trading