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发表于 2011-12-10 11:37 PM
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Since you post the chart every week, is it ok to have some comments about the last week's prediction, if it is good, and if not, how you adjusted to it, etc. I think that it will be much appreciated. Thanks.
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yupek - Thanks for reading my weekly posts. My prediction is based on the Elliott Wave principle that everyone can find tons of references on the web. About last week's prediction, say SP for example, my preferred count is the purple line. The market could have taken wave-II right away last Monday. In that case, wave-I.4 would be a simple correction. However, the market went flat for 3 more days, and wave-I.4 became a complex correction. Last Thursday's sell-off could be the final kick of an irregular wave-II before wave-III's marching north.
It's hard to answer the question about how to adjust wave count. If one wants to trade EW, at any moment, s/he needs to have a backup plan - that is the alternative count. When the market does not move in favor of one's preferred count, the alternative count may become the preferred one. Remember one thing ... anything can happen. Therefore, trading with EW is a process of constantly thinking. As I mentioned many times, it's just like playing chess with the market. I don't mind to share my view every weekend because I will be happy if readers make money and also share their thoughts with me. More people watch the game (of chess), more thoughtful the wave count would be.
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