In this MotiveWave chart, below, the potential fourth wave in the four-hour futures is 'longer in time' than the third wave. There is a double bottom at (c), (b) which doesn't really lend itself well to a triangle count although that is a good alternate. Or perhaps the triangle will work in cash, but not in futures.
%20Wave%204.png) |
| ES Futures - 4 Hr - Wave 4 longer in time than 3 |
The two most recent fractals are clearly shown on this chart: down (red) and up (green). Other items to note are the potential sharp for wave 2 and a potential flat for wave 4. The upward minute ((b)) wave reaches the 90% level, even as cash went slightly over the prior top. Further note the location of the prior wave four of one lower degree - minute ((iv)) at 4,041.50 and the likely running second wave ((ii)).
More later. Have a good start to your evening.
TraderJoe
ES (5x3) - Current
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_5c70406602c18630213a154b672f0695.png
👍
DeleteLooks like the marginally truncated wave 4, where minute ((c)) is a contracting diagonal.
ReplyDeletehttps://www.tradingview.com/x/XVEpMQsR/
TJ
feels like anther bull trap aka C or X.
ReplyDeletemaybe this if we don't get over this morning's high? I try.... https://tvc-invdn-com.investing.com/data/tvc_caf56c0631aa229838c06e16fc74cc3f.png
DeleteTJ,
ReplyDeleteA couple of days ago on June 4th you posted a chart of the Rus2K
https://www.tradingview.com/x/9b89RYwi/
You said that this was a test of an obvious "simple" Elliot wave question and I never found an answer to the test. However, one thing that jumped out was where the location of alternate Red C is and the fact that Red C does not equal the length of red A which is typical (it does hit .786 of Red A which can be enough). However Red C also does not touch the bottom of the trend line which could mean a truncation of Red C or making the primary of a nested 1/2 that more likely. The only other problems I have with Red C as an alternate is that the correction waves circle 2 and circle 4 of Red C are very short in time compared to Red A and the "look" of the wave (because of their short time length) is not the best.
Any further input or thoughts to the "test" would be appreciated.
Tjchuck
Not quite the answer. I will respond via subsequent post.
DeleteTJ
4th wave overlaps wave 1...
DeleteThe answer is now posted.
DeleteTJ
ES (5x3) Update to earlier -
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_15efc8a8f628923fbe0b75e204557042.png
IWM (wkly) On a closing basis, we bounced off the 200ma at our recent low.
ReplyDeleteES & SPY over their earlier highs. Into five waves up. Can go further if it likes.
ReplyDeletehttps://www.tradingview.com/x/hDOKWy3q/
TJ
SPY (2x3) - Current
ReplyDeletehttps://tvc-invdn-com.investing.com/data/tvc_d79bd331a3ff44a6c75db3b27d96d76d.png
Quad top now in place at 416. 2 more points (before a 3 box reversal) triggers QTBO and leaves a prior bear trap low.
DeleteES/SPY 5-min: I see no reason why this couldn't become a fifth extension impulsion.
ReplyDeletehttps://www.tradingview.com/x/7680OG0j/
I don't know it will. But ES needs to get over 4,155.50 to be longer than wave (iii).
TJ
the key here is the wave 2 in (1) versus what we are retracing now. if 5 up complete , we dont need much more time or distance before another 5 waves up can start. we will see, and if it goes over top without more pullback will be big move
Delete..now because of overlap might 'also' be considered a diagonal.
Deletehttps://www.tradingview.com/x/r89BERCg/
TJ
ES (4hr) - Observations
ReplyDeletehttps://www.mediafire.com/view/2nj88qkszju4h4s/ES4hrtargets.PNG/file
ES & SPY .. now over the former high, and a diagonal count is valid. Such a diagonal may be 'leading' because the fifth wave did not fail.
ReplyDeletehttps://www.tradingview.com/x/rp8rlTjl/
Can go further if it wants.
TJ
3 is longer than 1 in time but 4 is shorter than 2 in time.
DeleteRight. Still possible it was the ext. fifth. TJ
DeleteDefinitely looks like a diagonal!
ReplyDeleteInterestingly, the lengths are right for either. But the diagonal looks better.
DeleteTJ
TSLA (dly) - Looks interesting here
ReplyDeletehttps://www.mediafire.com/view/9p8vi1rt6z92ra9/TSLAIhs.PNG/file
A new post is started for the next day.
ReplyDeleteTJ