Hi Jaysee,
Just another thought - was never really happy with the "impulse" down from $30.29 - $29.78... the 4th & 5th waves were far too short to be convincing... miniscule, in fact...
If one makes the move from $29.78 - $30.11 the 4th wave, then the clear 5-wave impulse down from $30.11 - $28.90 becomes the extended 5th wave of a complete 5-wave impulse down from $30.29 - $28.90. Looks ugly, and the MACD and RSI would insist that the 5th wave is indeed extended, bit (IMO) it works... gives a nicer 1-2, 1-2 formation as well...
Using the move down from $30.29 - $28.90, the 78.6% retrace = $29.99. The upper limit for the proposed ABC correction from $28.90 = $29.98. Very convenient.
One more line in the sand...
But if it gets above $29.99, then the next very likely target is $30.29 - $30.62... if above $30.62, your previously mentioned target of ~$33.60 ($33.70 on log scale) takes precedence...
Should be some useful leverage in there somewhere.
Any thoughts appreciated.
Regards,
Ultrafart.
elliot stuff - for jaysee..., page-2
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add CBA (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$141.65 |
Change
-1.310(0.92%) |
Mkt cap ! $237.0B | |||
| Open | High | Low | Value | Volume |
| $143.40 | $143.58 | $140.94 | $280.9M | 1.991M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10164 | $141.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $141.65 | 1641 | 1 |
View Market Depth
| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| CBA (ASX) Chart |