Comments on the chart. Price taking out the 95 handle means the downside is complete
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idea still playing out. I think 88 is achievable eventually but I am aware of the oversold nature of this market
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strong downmove today. Now price has gone below the wave 3 low so I am now on the lookout for the completion of wave 5. I still think 88 is reachable but the market, not me, will tell
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Wow we got reversal price action today hinting that a retracement has started. There could be one more plunge to complete the wave count but for now the downside has slowed
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Price touched 88.50 before moving up. A retracement might ensue but according to EW rules we could still go to 88 after it is done
Hi there again,
Just checking here.
Is Dec 2015 your wave 3, followed by and abc ending in Feb 2018, and we are heading down the c wave of 5 waves ?
Cheers
John
Olu
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@johnm600, Hi thanks for your interest in the post. I believe we are in wave 5 of this weekly chart. within this weekly wave 5 I think we are in the wave 3 subdivision right now. So we still have a 4 and 5 to come within this big wave 5.
Olu
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88.00 is on the cards imho.
SharkbaitAl
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Love your analyses and updates Olu. We have very similar methods and ideas but you seem to be much more disciplined and objective -it helps me with my own objectivity and discipline. Thanks for sharing and good luck on your trades!
jeffreyjim
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"Excellent Post " -- "Thanks"
==========================
"I" think -- "You" -- have a 66.7% or better chance of being correct at this time -- "1-15-2018".
=====================================================================================
------------------------------------------ "Elliottt Wave Patterns" ----------------------------------------------
------------------------------------------- "Robert Prechter JR " ------------------------------------------------
--------------------------------------- "The School of Hard Knocks" --------------------------------------------
---------------------------------- "Excellent" --- "Money Management" ---------------------------------------
======================================================================================
Remember Every --- "Market" --- Can Have Many Different Wave Patterns Working At One Time.
--------------- "Elliott Wave Patterns" -- "Are Like" -- "Playing" the Game of "Chess" -------------------
The More -- "Options" -- (MOVES) -- That Can Be Figured Out -- The Better Player You Could Be.
=======================================================================================
"Good Luck" -- "Good Trading"
"One Eye Jim"
Olu
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@jeffreyjim, Thanks JJ. Yes EW can be a difficult methodology to master. I tend to stick with the 'keep it simple' strategy
jeffreyjim
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@Olu, --- "I" also like "Simple" --- Keep up the "Great" work --- "Thanks"