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Tuesday, July 19, 2011

More chop ahead

Today's rally put the market right in my target area.   The subminuette chart shows an expanding diagonal (C) wave of  c.  Notice on the subminuette chart where the momentum of the 5th wave of (C) diverged with price.  Assuming it reverses here, and that we have a contracting triangle as shown on the minuette chart, next we should have another (A)-(B)-(C) down.  If d is 61.8% of b, it should terminate around 1305. 

Posted by Waverunner (FractalTrader) at 7:52 PM

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Notation


Wave DegreeMotiveCorrective
Grand Supercycle((I)) ((II)) ((III)) ((IV)) ((V))((a)) ((b)) ((c))
Supercycle(I) (II) (III) (IV) (V)(a) (b) (c)
CycleI II III IV Va b c
Primary((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))
Intermediate(1) (2) (3) (4) (5)(A) (B) (C)
Minor1 2 3 4 5A B C
Minute((i)) ((ii)) ((iii)) ((iv)) ((v))((a)) ((b)) ((c))
Minuette(i) (ii) (iii) (iv) (v)(a) (b) (c)
Subminuettei ii iii iv va b c
Micro((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))