FTSE 100 & Dow Jones Elliott Wave Review (26/02/2010)

[robertplant634]

you were wrong!!!

[Andronichuk]

@robertplant634 yes I was. And I do and am happy to put my hands up and say it when I am proven wrong by the market. Of course for me it isn't being wrong on youtube that matters most, it's the financial hit I take for an incorrect analysis and bad trade which matters to me most.

[robertplant634]

@Andronichuk christ! you really would have gotten it in the arse being short!

[koolio2020]

Great work!

[devon19210]

point 3 =A

point 4=B

end of wave 1=C

you're looking at an ABC correction and we're headed for higher highs (than January).. short at your own risk.. if you do it's your covering that's going to fuel the rally.. play it smart and go short or long when there is no other possible wave counts.. if you're short you see want to see same goes for longs.. be careful

[ProofCrash]

Excellent work, I just subscribed.

Question:

How does it fit to your wave count that the downfall from the Jan high was just a correction and new highs are ahead. I think at least some US indexes support this idea that looks like a 3 wave correction down.

[DebtJunkie]

Good stuff Andro.

I'm trader from Macro news and the signals in the news points that we are gearing up for the Crash of 2010.

Thanks for the TA, gives me another dimension.

[koolio2020]

Got it,no sweat!

[koolio2020]

Hi Max,

I was talking about the move you made at 08:37,Is that the same one you replied to me about.

God bless

[koolio2020]

Hi Andro,

I was just wondering why you drew your retracement levels from the bottom starting with 100% and dragging it to the top of 5370 leaving it there at 0%,Is that the way it's done.

Many thanks.

[Andronichuk]

Thanks for the question.

To be honest it won't make too much difference...

The fib levels are pretty much mirror reflections of each other around the 50% fib level...

EG: 61.8 and 38.2 are equal distances from 50%... likewise with the other fib levels... so either way you do it, it wont make any difference really...

[Andronichuk]

The reason I do it like that is because my charting package automatically extends fib. projection targets... and these are projected outwards past the 100% level...

so I always start/place the 100% in line with the direction I expect to see the market take.

Hope that helps

[koolio2020]

Sorry! It's working,take it back.

I thought I was the only squirral chasing a nut at this time in the morning.

It's really great work,keep it up,a loyal follower here.

[koolio2020]

I'm clicking on it,but it's not working.

Oh,by the way,great job!