Day Trading Stocks & Futures

sridhga

Well-Known Member
RJ showed great restraint when he said 18,000. Quietly he is thinking 30k-50k :)

All major indices go up over long period of time. That is because they periodically kick out under performers and include new upcoming performers.

As long as our central banks just print paper and call it 'money', the markets (more so with the indices) will go up.

The under performers will be thrown out of the club, are forgotten, and they die an inglorious death. Meanwhile, the new performers have a party time and the show goes on.
 
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Romeo1998

Well-Known Member
But in most cases, wave 5 should close above wave 3. So you expect this to go above 24200. Is it not?

Or let us look at this way. If we assume that wave 3 is the longest in this up move, then wave 1=wave 5 in size. Wave 1 started at 20407 and ended at 21811. So wave 3 which started at 23155 should end at 24500. Is it not?
sometimes there r truncated wave 5s too, means they dont go above wave 3.... wave 5s target = wave 1 x 1 or wave 1 x 1.61 or wave 1 x 2.61 or wave 1-3 x 0.61 or wave 1-3 x 1 .... i always use trendlines and channels to know when a wave has finished n a new wave is forming :)
all the rules r perfectly explained on elliottwave.com :)
 

sridhga

Well-Known Member
sometimes there r truncated wave 5s too, means they dont go above wave 3.... wave 5s target = wave 1 x 1 or wave 1 x 1.61 or wave 1 x 2.61 or wave 1-3 x 0.61 or wave 1-3 x 1 .... i always use trendlines and channels to know when a wave has finished n a new wave is forming :)
all the rules r perfectly explained on elliottwave.com :)

If wave 5 does not go beyond wave 3, it gets mixed up into ABC that follows.
 

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