Sharck Soup Message Board

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Strategies & Market Trends : Sharck Soup

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To: Wendisman who wrote (12566)	3/21/2001 11:16:58 AM
From: velociraptor_	Read Replies (1) of 37746

No problem Wes...I use a combination of 1 minute, 5 minute, hourly, and daily charts to look for specific chart patterns which appear bullish. Also, while elliot wave theory is difficult to apply 100% of the time, some of the most basic concepts in the theory can be applied with great accuracy. In this case, it is obvious that we are now in a new down leg, and this down leg should take the form of 3 down waves with a corrective chart pattern between each. The pattern started Yesterday right after the FED news and we have completed 1 leg down and have just completed 1 corrective wave. We should now be in the next down wave. This is the short answer as it takes a little time to learn the patterns and I could not possibly explain it all in one post.

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