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Strategies & Market Trends : CFZ E-Wiggle Workspace
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To: skinowski who wrote (9449)11/26/2008 9:39:06 AM
From: hawkeyefan  Read Replies (1) of 41414
 
Thanks. Interesting view. I agree that the structure since May looks like an impulse. More likely than not it is completed.

I have to ask this: If this last v of 3 or C was an ED or wedge, is it possible it is not completed?

My understanding of an ED is the a or 1 has to be the longest leg, then the 3 or c, and then the 5 or e as the shortest.

On the daily charts it looks like the iv or d has just completed and we are going for 5 or e.

But if you go to the 15, 30, or 60 minute charts, you can make a case the whole v of 3 or C is complete. The iv or d would be awfully short in time compared to the 2 or b.

I suppose the market is waiting for some news to come out to decide if we are going up from here or back down to complete this last leg.

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