FX:SPX500   S&P 500 index of US listed shares
279 5 2
In trying to throw some light on the target zone for the three way drive to a pattern we see on the daily chart , another fellow technical analyst draw my attention to the wolf wave .
See here: http://www.wolfewave.com/an_illustration_along_with_the_rules.htm

It's very clear in it's measuring and defining of ETA and EPA. It gives a target of 1890 ...close to the 161.8 fib extension. - only 5 handles short.

But as always... time will show
Safe trading ladies and gents!
BM

Music at work: http://www.youtube.com/watch?v=buKNzdD1_oQ
I agree. The second version of the same situation:
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hehe hehe
snapshot
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and what if ...
snapshot
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Retest the 0618 retracement, then crash to 1700, thats how im playing it. (Could go as low at 1646)
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Didn't pan out...so time for reorganizing...
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