Wednesday, July 26, 2006

Counting Waves in Real Time ES #F 072607


Counting EW in real time is hard to do, but it doesn't stop me from trying. This is what I saw that got me ss off 1279.75 high towards the end of day. Notice that wave 3 had 5 waves, as did wave 5. There was a preliminary 5 wave count off the 1266.75 low, but the 5th wave up was longer than the 3rd wave, so I knew that didn't look right, and so expected extention in wave 3 and further move up, and the higher timeframe charts (esp. 60min.) supported the move upwards.

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