We are trying with this post, not only to show you, our calls and how they do, but also show you the entire picture on those days and how Elliot waves and Fibonacci works ; for those who think that market chaos don´t respect some kind of order and laws.
We have colored with different colors, not only the market date but also the market direction .Up or down.
The date sequence goes from up to down.
On April 4, we call the end of a wave 3 rally at 1,423 and call for the start of a wave 4,down to 1,290.
On April 4, we also call a first stop at 1,375.
On April 9, price stop it's fall at, aprox, 1,375 and we call a wave 4,up to 1,385-1,392 area.
On April 10, price went to, aprox, 1,390 and then, when price was, aprox, at 1,353, we call the end of a wave 3 down and the start of a wave 4, up to 1,375 -1,385 (50% retracement)
On April 12, we call that wave 4 in place at 1,385, which was 50% retracement.
On April 13, as you can see in "Some of our best calls" at the right, above, of our blog, we nailed the way up and then, the way down of the daily action, with a very close count,with a 1 min chart.
Wednesday, April 4, 2012
We targeted 1,446 to put wave 3 (purple) in place, but seems that 1,423 was the one. Target for wave 4 ( purple) if we are right could be 1,290