Short Term Trading Member Forum

[techcharter]

Aire: Ignoring External Events

Yup, strict elliott wave analysis says to ignore the external events. I reconsidered my wave counts. When the SAP closed on Monday, it was a thrust and the entusiasm could have continued into after hours to the projected level of 1184.

Things make much more sense using 1184 as the starting point for hourly wave 3-1-1 leading diagonal that dropped 24 points to 1160. Afterwards was an hourly wave 3-1-2 expanding flat that has retraced 50% into the close. Wave b of the flat ended at the low of the day.

This looks much better now.