Yes sir, you are correct. Haven't looked at a DOW chart lately except the one I keep in my mind but I can see it pretty clearly. Looking to get back in DXD in a couple of weeks or so. Should be a pretty interesting study to see whether this wave is a simple wave or a complex wave and give some insight to the wave 4 coming down the road.
Ever since I've been learning Elliot Wave theory it's like someone just drew a road map. For instance, on UJ I see that it's got another wave down to come on the 4 hour to at least 88.50 for a double bottom so ANY trade here short as long as it's good money management is virtually a sure winner.
I've been thinking that an ADX/PPO pincer means wave 3 since many times you'll see a high ADX start to curl back down and then it will run back some the other wave in wave 4 before it finally makes wave 5. My EAs I've written have been mostly centered around looking at the ADX and going opposite the trend but I think it's actually opposite in that when you see the ADX curl the first time and head down then wait for it to start rising again and make the trade with the TP at the low of the curl (just in case it turns out to be a truncated wave 5 and therefore a double bottom).
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