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RT--
S&P---Stockastics
I find that SP9Z(S&P dec)---has completed wave 5 on 10/18, a complex
larger wave 4 correction (7/19--10/18). Now we will resume up to new highs.
If you did not get in on this low we will be doing a retracement off of 1388
area as indicated from the first part of this leg of 10/18--10/22 which was
764 pts add that to 1285 and you get my exit strategy at 1388, just a little
higher from where we are at. 1318 is the high of leg one and so do not look
for a retracement below that till wave five is completed in this leg. After
leg five we will have a deep retracement ussually between 65-75%. How do
you know the points of waves. This is what confuses people so often and say
Elliott Wave is so hard. Here is to simplify it. I use Daily and 1/5
time frame of daily for intraday for Elliott Wave and Slow Stockastics set
at 14. You don't need the two time frames it just fits into my trading
style. But when slow stockastics goes to 25 or 75 and reverses to the
opposite side we have a wave point. This is somewhat retrospect but is not
really since most market moves are after the stockastics is extended, but it
keeps you focused what to expect next. Such as LHZ9(lean hogs dec) if you
look you should be able to see a very complex five wave inside wave a and
wave b is developing now and therefore on retracement(notice stockastics
extended and confirm a point on 10/25), also I find a divergency of
stockastics on wave five(such as lh9z--10/25). That lets you also know that
your wave count has just finished a bigger wave formation. Just a
different outlook on Stockastics. Hope this helps all.
happy trading
charley danielson
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