I was just reading it again
Yes, it does offer some good explainations. Scott (makomemoney) was looking into Elliot Wave so perhaps he will offer some insights to the link also. I would like to hear what Bernard's perspective is on it also as he is Very Good at recognizing the chart patterns and might have some insight into the triangles. Interesting that we are near 8600 here as that was one of the levels the Dow achieved when the FTSE was previously at 4000 and failed. We will not know until tomorrow if we are at Resistance or if we will find Higher Support here and continue the Breakout. We should probably do some Fib numbers from the low at 8250 and see where the retracement levels are from there Eh? Fib numbers are something that are relatively simple but also are confusing to me when trying to determine which retracement level we are at from the lows to the tops and the tops to the lows over different timeframes. Being at 8600 we might just be getting the HOD at EOD and at Resistance, maybe. I will wait until we move back Below the SMAs to look into any Puts though. Nothing wrong with using the HOD at EOD to take some profits though. Markets are Looking Bullish. It will be interesting to see if the 'triangle?' continues to expand Eh?
Good Luck Pep! Let's see what happens! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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