Wednesday, May 25, 2011

Triangle possibility

There's a possibility that price is in a short term triangle. When this triangle is done, price should start declining again. Another possibility is that wave X is an unfinished complex double three. There are even more possibilities but they all have the same direction, which is down.

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3 comments:

  1. AnonymousMay 26, 2011 at 10:41 AM

    Hi Jeremy!

    I am puzzled by the similarity of the move from 1.4940 down to 1.3970 with the one between 07-24.08.2010.
    It is true that the last leg down from 1.4345 is a bit to short for a three wave larger structure (at a higher level).

    Just wanted to raise this for your consideration.

    I shall be excused if this proves to be of no substance.

    Best regards,


    Catalin

    ReplyDelete
  2. Jeremy DemunterMay 26, 2011 at 5:53 PM

    Hi Catalin,

    You are correct that wave Y of (W) is a bit short, but sometimes size isn't always what it should be. The ideal size relation is that W = Y, 78.6% is also a pretty common relationship in complex double threes. But every once and a while you get a relation where either w or y is double the size of the other wave (y or w). I haven't figured out why this happens yet, it might just be random.

    Friendly greetings,
    Jeremy

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  3. AnonymousMay 27, 2011 at 7:55 AM

    Jeremy,

    I am astonished to see the impetus in the last move up. It seems that it becomes messy in terms of counting but it just strengthen to me the idea of similarity with the move of 07-24.08.2010.
    Now, what did you mean when you said that another possibility is that wave X is not yet finished? The symbol on the graph is B for this current wave.

    Best regards,

    Catalin

    ReplyDelete

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