Hi Patternsolver, let’s take this one step at a time. We still have some distance to go on the downside! But when the move gets underway, we will look for wave (C) to equal Av (A)
Hi Mr Ramki,
Thank you very much for having a look at our Ibex! Regarding wave 4 green in the second chart, there is a peak at around 9370 which is 50% retracement, and I would have thought that this was the end of wave 4… Could you have known in advance that that was not the end of wave 4 green?
As I find corrections quite difficult, if you had a minute, you don´t know how much I would appreciate your view in EUR/YEN and EUR/GBP, which are in a corrective phase… I think!
Thanks very much for your help, best regards!
Hi Antonio, thanks for your comments. Yes initially the 50% lvl for green wave 4 is where i too would have thought of going short, and it would have been profitable. But it has turned back up from a higher low, and so we go for this triangle. Complex corrections are hard even for me, so don’t worry. We should use Elliott to spot low risk trades, not to make predictions about he future. If I predict something it is just to give ou a framework to think around. My book also has this philosophy. Good luck. Oh it takes a lot of time to carefully analyze a chart. Will try these crosses one day.
Hi Mr Ramki, my question is not about your charts, that are always smiling and clear, is about something I have found in a chart I´m working on. I know by you and your book that the rule is wave 4 cannot overlap the top of wave 1, but could wave 4 even touch slightly the top of wave 1 in a spike or a brief movement, or should we find another count?
Thank you very much for your time and comments that are, as always, are invaluable!
Antonio
Hi Antonio, It boils down to a quetion of judgement. If the spike was a wrong quote, or something which happened because of a computer glitch, and perhaps only one or two trades happened there, then you can ignore the whole spike, let alone the overlap! When in doubt, work on another count and see how it fits in with the big picture. As I never tire of repeating, no count is permanently correct while the movement is developing. We will know only after the move is over. How EWP helps is by pointing out a wrong count soon, enabling you to adjust your position before serious money is lost. But while a move is unfolding in the direction of your count, you can stick with it and enjoy the profits.
12 Comments
Dear Ramki,
After the Low is formed around those levels, are the targets of the Huge rally anywhere close to 11450 ?
Hi Patternsolver, let’s take this one step at a time. We still have some distance to go on the downside! But when the move gets underway, we will look for wave (C) to equal Av (A)
Thank you Mr. Ramki to forecast our Ibex. So after this expected correction, do you think Ibex will go to new highs?
Hi Jordi, I do expect the rally to exceed the top of wave (A)
Hi Mr Ramki,
Thank you very much for having a look at our Ibex! Regarding wave 4 green in the second chart, there is a peak at around 9370 which is 50% retracement, and I would have thought that this was the end of wave 4… Could you have known in advance that that was not the end of wave 4 green?
As I find corrections quite difficult, if you had a minute, you don´t know how much I would appreciate your view in EUR/YEN and EUR/GBP, which are in a corrective phase… I think!
Thanks very much for your help, best regards!
Hi Antonio, thanks for your comments. Yes initially the 50% lvl for green wave 4 is where i too would have thought of going short, and it would have been profitable. But it has turned back up from a higher low, and so we go for this triangle. Complex corrections are hard even for me, so don’t worry. We should use Elliott to spot low risk trades, not to make predictions about he future. If I predict something it is just to give ou a framework to think around. My book also has this philosophy. Good luck. Oh it takes a lot of time to carefully analyze a chart. Will try these crosses one day.
Hi Ramki,
Can you also post your analysis and view points on AEX (Netherlands Stock Index) ?
Thanks in advance.
Hello Mark, This is getting interesting! Will take a look next week. Cheers.
Hello Ramki, could you please kindly update your Natural gas Nymex analysis. TIA Lumir
Hi Mr Ramki, my question is not about your charts, that are always smiling and clear, is about something I have found in a chart I´m working on. I know by you and your book that the rule is wave 4 cannot overlap the top of wave 1, but could wave 4 even touch slightly the top of wave 1 in a spike or a brief movement, or should we find another count?
Thank you very much for your time and comments that are, as always, are invaluable!
Antonio
Hi Antonio, It boils down to a quetion of judgement. If the spike was a wrong quote, or something which happened because of a computer glitch, and perhaps only one or two trades happened there, then you can ignore the whole spike, let alone the overlap! When in doubt, work on another count and see how it fits in with the big picture. As I never tire of repeating, no count is permanently correct while the movement is developing. We will know only after the move is over. How EWP helps is by pointing out a wrong count soon, enabling you to adjust your position before serious money is lost. But while a move is unfolding in the direction of your count, you can stick with it and enjoy the profits.
hi ramki sir
Ibex is melting
its 5 of v of 5 is near to ending? may b
as per my counts,
your valuabal counts are needed, when u back from holyday,