Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Tuesday, July 14, 2009

got your little flag setup...

2 comments:

Tony said...

So the end of wave 3 was near today's open and the "flag" you are showing is wave 4 and now we are wave 5? Which goes toward your previously discussed target of 91, correct?

I realize that EW may not be appropriate, but I'm just trying to make sense of it from that perspective. I'll apologize in advance.

My right-brain does not seem able to see patterns as clearly and I have to say that I am impressed by your accuracy is predicting--- altho T.Lo's "Own the Zone" says predicting markets is not part of trading, I'm still impressed.

The trade set-ups help me alot and I suppose I don't have to "see the patterns" to trade, I just grunt it out and look for set-ups... so far I have a couple down and seem to be making them work.

Eric said...

yep... wave 5 now...

Predicting is... well you don't trade like that. and sometimes it depends on When it gets to resistance.

but who knows how far it will correct.

you are never sure, and it doesn't happen exactly how you think.

Now if only I could get a better handle on downside targets.

New Economic Indicators and Releases

What does Blue Horse shoe love?- Blog search of "BHL"

cnbc