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Strategies & Market Trends : CFZ E-Wiggle Workspace
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To: skinowski who wrote (15017)2/23/2013 7:19:01 AM
From: POKERSAM  Read Replies (2) of 41545
 
skinowski - The whole reason that EWave works is because the herd mood is NOT fickle. The herd mood follows certain patterns and they are repeated over and over again in fractal fashion. If the herd mood changed as you describe it, EWP would be nonsense and there would be no patterns, counts or order to the market. Chaos would be all you would have left.
A five wave impulse at any degree is not an indicator or an indication that may work or may not work. It is a five wave impulse. Where it appears in the sequence determines what wave it is. It could be the first of five waves in a change of trend or the first wave in a three wave correction.
In this case I think we can all agree this two day down is running countertrend. A five wave impulse running countertrend can only be the first wave in a change in trend or the first wave of a countertrend correction.
When in the course of a trend do you get a five wave impulse correction followed by a continuation of the trend in five waves? The answer is never.
Whether or not this 5 wave impulse down is the first wave of a trend change or the first wave of a three wave correction is the question. It must be one or the other.
In either case the five wave impulse down must be followed by a three wave correction running countertrend.
Then it must have another five wave impulse down to complete waves 1,2,3 of the trend change OR abc of the correction of the larger degree trend.

Perhaps the first question that should be addressed is what are the odds that the decline from 1530 to 1497 on Wednesday and Thursday of last week was really five waves? In the above I have assumed that this decline was five waves. Does anyone hold a different opinion?
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