I don’t usually engage in blog articles that are rubbing in, but I do like to show you the world and what else is out there.
So I do appreciate that everyone is trying their butt off to be making coherent moves in the market. It is ridiculously hard. No matter how intelligent you are, if you are not understanding the true mechanics, then your conclusions would not be right either.
In short, this Elliott Beethoven decided that there would be a higher high, he would go short 20 lots, cover 10 lots at twice the length of his risk (1 to 1), then cover 5 more lots at the lower horizontal line and ride 5 more lots for a home-run to below the last low and beyond. At least this is what he said in his recruitment video for future paying members.
I, on the other hand have identified the Left Shoulder, the CAP (a bit more complex than a head) and the Lower High when price returned to the overbought level for a Kiss Goodbye. I was not looking for a higher high, so I ended up participating instead of watching from the sidelines.
Thanks to my understanding of the range, I would be looking for a Left Shoulder, then a Head/Cap and the KGB to fully reverse my position. I also understand that price has to first paint a new range, as it went beyond the point of no return.
Enthusiasm is one thing, intelligence is another, but knowing the right answers is like playing in a different league entirely.
///fizzle out if (High[i+8]<E44[i+8] && High[i+7]<E44[i+7] && High[i+6]<E44[i+6] && High[i+5]<E44[i+5] && High[i+4]<E44[i+4] && High[i+3]<E44[i+3] && High[i+2]<E44[i+2] && High[i+1]<E44[i+1] && High[i]<E44[i] && cap[i+8]>0 && cap[i+7]>0 && cap[i+6]>0 && cap[i+5]>0 && cap[i+4]>0 && cap[i+3]>0 && cap[i+2]>0 && cap[i+1]>0) cap[i]=-1;
Quoting Ira Epstein, “why would you do anything before the reports come out?” – “I think they are going to be fighting a battle right here for the next 3 days.”
Except, the 9th day had arrived. Intention is one thing, experience is another. Learn to trade with the range.