Elliott wave outlook

Quoting The Cableguy

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MIGS, there was no truncation. That would have meant a wave count for the 5th without a LL, but it hit its target;

from earlier;

http://i1168.photobucket.com/albums/...m06-02-13a.png

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Quoting MeInGraySuit

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Hey CG I was talking about a truncation much earlier on my count. Take a look!

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Quoting The Cableguy

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I see other analysts are calling Cables current move as an ending diagonal. It would certainly look nicer than my count, however, mine will be more likely to be correct in the absence of a further LL;

Previously;



Its the way the fibs work so well, that i can overlook the feeble looking 4th (although it has worried me ever since!),

With that i ran a couple of predictions for likely abc's;



and as of last night;

http://i1168.photobucket.com/albums/...4h05-02-13.png

Now you can see why others are labeling that last corrective...

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Quoting The Cableguy

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I see other analysts are calling Cables current move as an ending diagonal. It would certainly look nicer than my count, however, mine will be more likely to be correct in the absence of a further LL;

Now you can see why others are labeling that last corrective as a 4th and current as an ending diagonal 5th, but so far it is clearly in 3 waves and not 5. So, they will now be expecting a complete abc long, whereas i will be expecting simply a 'C'...

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Quoting The Cableguy

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Yes indeedy, i posted elsewhere last night i was looking for 15,595 for a bounce, (lower TL). The way Cable is struggling right now, i will have to keep an open mind as to the above counts. I seriously can't see any corrective move amounting to much upside...

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Quoting venzen

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Excellent chart and analysis. I'm with you on the running flat being a highly likely outcome. Part of the reason I agree is that shallow 2nd wave followed by an even weaker 4th. It's as if price cannot go down fast enough and is hopping and jumping through the count downwards as fast as it can thereby causing the flat corrections and elongated down moves...

Another reason is the horrible fundamentals for the UK economy, but hey, wave count speaks louder than any fundamental...

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Quoting Mr. Scott

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Spot on my friend. Always keep an open mind, as it really is hurting. Look at daily and poss abc already done?

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Quoting whatever007

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Check out Tradeinterceptor, great charting application and free to use.

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Quoting Luis Carlos

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Sorry guys if I dont follow some comments now, I some busy I just post what I think...

Like Euro dollar

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Quoting The Cableguy

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Now i had it that the last move up hit its 61.8% retrace of the drop, ('B', which it does to the pip - blue circle), however, could the market be playing a trick, it is only a small handful of pips more than if it was the 61.8% of wave A (red circle); this would fit perfectly with my prev counts and also explain why Cable simply wont get any strength from here. So instead of an ending diagonal, with a corrective ABC move to come, we will actually be starting the 3rd of the 3rd? sounds like a plan?!

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Quoting venzen

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If this plays out the way you anticipate you, my friend, will be hailed as an EW visionary who saw through the riddles and walked across an invisible bridge to attain arcane knowledge

edit: I've positioned to catch that 3rd wave down

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