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Tom,
Thanks for making me digging deeper. But remember I am very insecure with
regard to Elliot waves. I am only labeling when I see something I think
looks obvious. No X's or Alt here and there for me.
> Stig......I don't know where you're getting your EW count(software???),
> but you have wave 4 going below the top of wave 1....
As far as I understand it, the theory is developed from and for the
stockmarket, which in theory and in the long run is always rising. In this
environment wave 4 may never go below wave 1.
However, when it comes to commodities, it's another ballgame. Here you may
very well let wave 4 fall into wave 1 once in while. But like I said, I am
no authority on the subject.
I have included 3 gifs, ( I am sorry for the time it takes to download,
stocktraders, but it think/hope it may cast some light on the position of
corn - or it may be an intellectual challenge for some).
The first one ELLIOTWCH is a clarification on the one you Tom commented,
which I still think is the valid one. Please note the Possible inverted
Head & shoulder formation (S) (H) (S?) and remember it when you look at the
last (3rd) gif.
> there are other
> violations of your count....my guess is that your 1,2,3 is an A wave...
> your 4 is a B wave and your 5 is actually a C wave...completing an
> ABC................Tom Stein comfut@xxxxxxx
The second one is an Alternative count, but if your ABC count should be
valid, I have a hard time getting wave 3 and 5 into the perspective.
The third gif shows corn from 1965. Looking at that we see that we may have
broken out of a double bottom which we now are testing. this should support
the fact that we are entering wave 3 of (3).
We have 2 trend channels to choose from (1) + (1) and (2)+(2)
(2) channel where lower line is parallell with upper line, connects two
tops and two bottoms and we have a downside breakout indicating lower
prices, not supporting my preferred count.
(1) channel where upper line is parallell with lower line (the correct way
to draw lines in a bull market), shows support right now and an overthrow
above upper channel indicating strength(?), supporting my preffered count.
Well, I don't think I can squeeze more out of Corn tonight.
And tomorrow I will probably buy back my contract!!!???
You didn't know? - Well my stop and reverse (273.5) wasn't hit!!!
According to my broker high today was 273.25!!!!
At last - an intellectually disappointing analysis was rewarded
financially.
So what's the use.
Might as well make it short next time.
Which I know a lot of you would love. Actually I feel like Don Green
sometimes.
Once again I am sorry for taking up time and space for those of you who
prefer stocks.
good night
Stig
there are other
> violations of your count....my guess is that your 1,2,3 is an A wave...
> your 4 is a B wave and your 5 is actually a C wave...completing an
> ABC................Tom Stein comfut@xxxxxxx
>
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