weird wacky week, page-31

Damn straight, Sir Volt, and a couple of points, on further review of the posted charts and thoughts of mine above...

Number 1... I suffer from thinking price will move faster than it does, and many many times have cut trades because they have not reached a target when I expect them to, only to see that target reached eventually... check the slope of my price projection line in the first graph... I thought this was the path over time price would follow... quite obviously wrong. This is why I have so much respect for our cycle gurus.

Number 2... Overlap... In the first chart I presented, you can see that the bottoming triangle has "overlapped" the point of coincidence of the first and second wave... this is a confirmation sign for the possibility of a retrace of the whole 3WCS... and borne out by the following price action...In my mind, this is a "softening" of resistance giving a greater chance of a complete retrace of the 3WCS...

In the two charts I follow with (yesterday's 5 minute and the hourly) we have seen price stall at or below the point of coincidence of the first and second wave. Resistance is stronger, and a complete retrace is therefore not so strong a possibility.

;)