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Commodity Trading Discussion Forum

TBonds *PIC*

Posted By: charleydan
Date: Friday, 3 July 2009, at 6:52 p.m.

In Response To: Holding pattern *PIC* (charleydan)

As I mentioned--I am trying to revise this different for organization and communications.

Numbers correspond to the chart numbers.

1.That pattern always brings on a correction wave next. 3 or B=retrace---- Either it will be a deep one or a shallow one as in fourth wave. Other factors tells a trader more.

2.a) I thought that was going to be end of wave -d- and go lower in last post at the 2 mark. Creating an descending triangle fourth wave.

b) Notice how jagged the pattern is on the lower side of this wave. That is indicative of an -abc- or -B- wave pattern. So label this wave -B- and that changed the pattern slightly.

3. Shows the boundary for the flat fourth wave here. -C- wave is next, going down and will be impulsive.

4.As the fourth wave is being created--it pushes the market sideways over to lower trend line. On the daily chart the resistant line is moving down for a lower target on the daily chart as time goes on.

The -c- wave down should hit lower channel line. Long term traders have to wait a week or so for a good position on this one.

If you want to print this message, you might have better results, and waste less paper if you print this printer friendly page.

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