Work in progress.

[finster869]

(03-10-2010 07:08 AM)Steely Dan Wrote:  

(03-10-2010 06:40 AM)finster869 Wrote:  How do you know that your square wave 4 is complete? Don't you need to wait until 21,230ish is reached, so that you pass the start of purple 4? Couldn't the move up from purple 4 be another 1-2-3-a-b-4, with 3 having completed, and the current move back the "a"?

Yes, of course you are right in what you are saying, even though subsequent events moved trade above the start of purple 4 (Note there still is a motive downwards possibility) however from where I went short it was good business to bag some profits knowing my uncertainty would resolve later and I could hop on a downward 3 or C at a later stage if it worked out that way.

Great. Just wanted to make sure I was understanding everything correctly.

[Steely Dan]

Had to re-label today. Was previously assuming we would take out the previous day's highs - the green line marks the point I thought I was wrong.

I did spot an RTB forming at today's low's imho we have a C wave which should bottom between 21900 and 21000.