Short Term Trading Member Forum

[Chuck703VA]

THe 1,2s winding up means that in the third wave down today, it appeared to build up some overlapping 1's and 2's. I usually refer to them as 3.1, 3.2,3.3.1, 3.3.2, 3.3.3.1, 3.3.3.2 and etc, until finally you get a 3.3.3.3 and then you start unwinding with 4,5 sequences...to unwind what I just wrote, the 3.3.3.3 would be followed by
3.3.3.4
3.3.3.5 which is 3.3.3
3.3.4
3.3.5 which is 3.3
3.4
and finally 3.5 which completes wave 3.

Some form of that happened this morning in the third wave.

THEN, when I said we have overlap, that overlap meant that wave 4 overlapped end of wave 1. The qualifying comment was with regard to whether wave 3 had completed its 'unwinding'. I just looked, and its not yet clear whether we had overlap or not......

That is because after the rebound that caused forementioned overlap, we have had another fiver down. NOW, that either is another 4,5 combination to complete the unwinding of wave 3, , or it is the fifth wave itself which went to new lows, and makes the overall action from yesterdays high a larger five waver to todays low. What's going on is yet to be determined until a little more shows on the charts.....

That for sure, is just my opinion. Sorry to confuse anyone....does that help?

oh yeah, the forcasting comment,,,,that was just a thought that we may be setting up an ED or an LD. In fact, the fifth wave if that is what it was does complete an LD from yesterdays highs. An LD is a 5,3,5,3,5 waveform where fourth wave overlaps end of first wave.

still watching....Frank, you have email.