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Originally posted by spikefader
But didn't the "C" entry fail? or when does it?
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But didn't the "C" entry fail? or when does it? -
I take it the 'c' you're referring to is Q's, compx, sox, or spx, doesn't really matter, the patterns are all virtually the same.Originally posted by dmk112
No, none of them have 'c' failures at this point. 'b' to 'c' can span of one/several/many days the way I look at it. The general pattern for all of them are still OK. And remember, I've simplified EW for my own purposes, so I don't use letters beyond 'c'. I look at further corrective letters as test of the 'c'. So there's plenty of margin in my counting to eliminate confusing little movements. What I do look for is the distinct 5 waves with abc corrections, where the final c is distinct. Right now, the indexes 'c's are still drawing out as part of their bigger weekly picture 4s. Timing 'c's are very tricky and remember back when I was talking about Qs weekly c long, well I was early and it took weeks to finally find itself. That's my knuckle-headed view on it all anyway. Thousands would think I'm lost in my own simplicity and modify the rules to suit my own purposes; and they'd be 100% right. haha! The way I look at it, charting involves some artistic interpretation!
and shouldn't be too stuffy!
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WEll then you can be trading the C entry for the next 2 weeks and be wrong everytime! now that doesn't work does it??? LOLOriginally posted by spikefaderI take it the 'c' you're referring to is Q's, compx, sox, or spx, doesn't really matter, the patterns are all virtually the same.
No, none of them have 'c' failures at this point. 'b' to 'c' can span of one/several/many days the way I look at it. The general pattern for all of them are still OK. And remember, I've simplified EW for my own purposes, so I don't use letters beyond 'c'. I look at further corrective letters as test of the 'c'. So there's plenty of margin in my counting to eliminate confusing little movements. What I do look for is the distinct 5 waves with abc corrections, where the final c is distinct. Right now, the indexes 'c's are still drawing out as part of their bigger weekly picture 4s. Timing 'c's are very tricky and remember back when I was talking about Qs weekly c long, well I was early and it took weeks to finally find itself. That's my knuckle-headed view on it all anyway. Thousands would think I'm lost in my own simplicity and modify the rules to suit my own purposes; and they'd be 100% right. haha! The way I look at it, charting involves some artistic interpretation! and shouldn't be too stuffy!
PS I do like the bounce off support today though
Last edited by dmk112; 08-12-2005, 07:17 PM.Comment
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OK, I understand the nature of the question, and the brief answer is sure, you'll stop out with tiny losses several times, but Vector will change bias before too long, so it ain't gonna be that bad. Explained down below is thus far you're only down -1% trading the Qs with an open position in a nickle profit tonight, and targeting 15%. So thus far it hasn't damaged you.Originally posted by dmk112
I want to expand on that now and get specific to explain it. Firstly let me clarify something; I've merely been referencing the 'c' potential to share my market view and bias not recommending to trade anything specific purely on this 'c' entry.
But if one were attempting to trade off it, any damage is going to be within acceptable limits, since V will soon react to get in sync with the trend and stop the idiotic fighting the trend! Yes, the bias and setup might be wrong for several days, but tight stops and smart r/r and one will stay out of trouble.
But let's not take my word for it, let's get specific about how it would have worked out thus far off a bullish call on Tues night based on bullish Vector and the so-called 'c' entry, and trade the Qs for example. The strategy would be attempting double bottom entries and risking a nickle (-0.25%) or SHS neckline break and risking maybe -0.5%.
On Wed one would have attempted twice for double bottom, so that's -0.5% total, and one SHS Wed afternoon, which worked nicely and ran bullish Thursday, and you'd certainly have put a b/e stop on it, and so that would be stop out even, so no loss there.
In the hunt again today and might have tried twice for double bottom entries gain, so another -0.5% and if you took the inverted SHS that appeared today, you'd still be long the position, with a stop to break even.
So out of 6 entries, you've stopped out 4 times for tiny losses amounting to a grand total of -1%, and stopped out once for b/e, and as of this bullish moment, have an open position right now with the future so bright I gotta wear shades! haha
And if that one stops out b/e tomorrow, then no problemo dude, you're only down 1% for 6 round trips. The next attempt tomorrow might nail the perfect entry and the bull's off, and your b/e stop doesn't get threatened. Your target for the swing long is the 5th impulse to new 2-year highs maybe 45 or 15%. So your r/r is 15, which is great. You may even retarget later to improve on that % profit.
And if the market were to dump quickly I can guarantee you that Vector is going to flip to bear, and you're now in the hunt short. Or if neutral, you're going to pause and wait for bullish Vector, and if the 'c' pattern is still valid then it's back in the hunt again until you either go mad or lose interest or you nail a great entry that lands you a wonderful swing trade that lasts weeks.
And say you didn't mess around with tight stops and wanted to give 1 entry on Wed more room. You'd likely be long from 39.40 and -0.20 with the position open, and at worst it got to -0.42 or -1%, so it ain't that bad!
Best to ya!
P.S Yes, me too!
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Good commentary spike, I guess you're right when trading the q's but on individual stocks its not as easy!
What do you think of ALDA:
A break of 26 should be ready to go, eh?Comment
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Spike looking at the $COMPQ chart I’m thinking we may have just competed “a” down off the 5th top. I also see a possible s/h/s formation that may or may not forum from the 2219 top. If this is correct The right shoulder may forum and end the completion of the “b” wave.
Current fib level from wave one up shows us right at the 38% line or 2156. If my theory is correct and ya know a BIG IF. I would think “c” might kick in off a retest of the 38 fib or even possibly the 50.
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Runner, how many days' back can you get intraday charts (60 min) on stockcharts?Comment
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dmk, I can go back longer than 6 months. You need a chart?Comment
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Originally posted by Runner
If you can please...FORD (year to date)... thanks!Comment
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FORD
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dmk, hope this helps...Comment
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I like stockcharts and feel it is $ well worth it. Membership is not much I can't remember the price,but I think it is under 200 per yr.Comment
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