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Tuesday, August 9, 2011

Short term picture unclear

Looking at intraday charts of the /ES, the wave strucure remains unclear. Therefore, I must defer to the daily chart, where we are still in a wave 3 of (1) down of possibly intermediate degree.

I'm still watching silver for a short entry. It is currently in a tight corrective range.
Posted by Waverunner (FractalTrader) at 2:04 AM

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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))