PS this was also the Wolfe Waves formation with the target nailed exactly...see posted chart 2
2c
Tuesday, May 20, 2008
Go ahead, make my day...
Ha, the forecasted target was reached in one day. Thanks to Warren Buffet, George Soros and of course the PPI. It was a no brainer day again. Initiated shorts at open and closed out by EOD. Now you have seen the power of Turtlesoupsell and WR7 signals and of course the self-fullfiling Fib ratios. What is going to happen next? The posted chart today is completely imaginery using past trading experience. First, tomorrow's numbers are 651, 647 and 642. Since it broke out of the bearish upward sloping channel to the downside, it will retrace to where it broke out from. A 382 Fib is 649ish and just above the pivot 647 a bit. If the market is really very bearish then a Fib 263 to the pivot 647. Either point should provide the information to define the upper channel line of the now downward sloping channel. Using the lower channel line and the Fib 100 mark will get us to the next target which is 638ish and this is also an important moving average number. Have fun....
PS this was also the Wolfe Waves formation with the target nailed exactly...see posted chart 2
2c
PS this was also the Wolfe Waves formation with the target nailed exactly...see posted chart 2
2c
Subscribe to:
Post Comments (Atom)
2 comments:
what is a turtlesoup sell?
Gary,
The name came from a group of traders known as the Turtles in the 1980s using a 20-day breakout method. 20 day high or low with the previous turtlesoup ocurring at least 4 days before. This is a powerful reversal method with enormous gain.
2c
Post a Comment