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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (7889)	7/19/2008 11:23:30 AM
From: skinowski	Read Replies (2) \| Respond to of 41419

I do think that more likely than not this is a bull trap. The question is - how far it may run? Another 10 points? A hundred points? Imo the way to go is step by step. If we become reasonably convinced that we have a fresh impulse off the lows - then expect a pullback consolidation - followed by a matching leg up. And so on. Along the way, with a little luck, we'll start picking up hints that the move may be heading for a conclusion. Or, on the other hand, we may find ourselves staring at an impulse a full order of magnitude larger than the first one. Of course in reality it is not this straightforward.... otherwise all Elliott traders would be rich.... :)