Short Term Trading Member Forum

[dindindon]

RE POKERSAM - wave

The same information has been posted on Jan 25 2012, 01:03 PM

wave set 2 [1158.66|1267.06|1202.37]
1.500 : 1364.97
1.618 : 1377.76

wave set 3 [1074.77|1292.66|1158.66]
1.000 : 1376.55
1.308 : 1443.88

Review:
Feb 3 2012, 09:14 AM
Index at the inflection point (to see 1376.55-1443.88)

synopsis:
After the tangential movement above the inflection zone 1334-1342 for 6 trading days, Index ascends to a juncture that either it will turn down before breaching 1376.55 or pave the road to a more bullish route (1376.55 -->1342-->1443.88). For the bearish case, bear needs to count on if index can dive below 1292-1295 quickly.

Wave counts:
counts has been omitted intentionally. Once you put counts, the market morhps into a different one. The Fibonacci projection provides better scope.

Feb 6 2012, 12:23 AM
I skip a long section I wrote earlier. Anyway, these gobbledygook wave ‘infrastructure’ is not an effective way for a pictorial outlook. I may post it when grapes are ripen





Wave can be decomposed into 6 layers, chart gives you an overall picture.
Each layer implied a bullish extension

layer 6
wave set 2 [1158.66|1267.06|1202.37]
1.500 : 1364.97
1.618 : 1377.76

layer 5
wave set 3 [1074.77|1292.66|1158.66]
1.000 : 1376.55
1.308 : 1443.88





In the paper Peter Goodburn wrote, he mentioned “Elliott's inclusion of the Contracting Diagonal”, then he brought the new concepts: “The Expanding-Diagonal, a mirror image of the Contracting type pattern” and “Triangle terminology - counter-trend vs. trend impulse patterns”. furthermore, he wrote “During the many years of teaching the Wave Principle, I have found students often confused by this because both are distinctly different types of pattern, yet both incorporate the term "triangle". To make it easier, I have dropped the association "triangle" when referring to the diagonal so that a diagonal is either a generic leading-contracting/expanding diagonal or an ending-contracting/expanding diagonal, leaving out the term triangle altogether.”

Author Terms
EXPANDING DIAGONAL PATTERNS
By Peter Goodburn
Charts compiled & edited by Kamil Rajec
http://www.wavetrack.com/articles/elliott-wave-expanding-diagonal-patterns.html

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