Saturday, January 29, 2011

1/29/11 - Impulsive vs Corrective Options

We all know there is no certainty in life. So why would Elliott Wave be any different?

Whether it be long term or short term, EW provides a multitude of options by way of wave counts but what many continue to forget, when applying EW, is that it is about "limiting the possibilities".

So below, I have cleaned up some of my corrective counts and placed all the most likely scenarios I believe to be in play onto one chart.

As for the impulsive count, I believe the cup and handle chart I have been posting is the most likely scenario at the moment. I have not gotten around to creating an impulsive chart like the corrective one below, but will do so hopefully by the end of the weekend.

Keep in mind things are subject to change, such as life. However, what is presented to us at the moment is what it is so that is how we should roll; for now.


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