MOngo,ave 4 retraced from basically $50 and down to $41.40. it...

MOngo,

ave 4 retraced from basically $50 and down to $41.40. it has since ran up approx 505 to high of 45.90 approx, it has then retraced to a low of 42.41 approx 75% more then a normal retracement, however when you take in consideration the eoy and option expiry and option assignments it is understanderable.

i have wave 5 going to $50.75 on elliot alone, it could quite easily turn into a ABC corrective wave structure though, all very confusing and needs time to unfold

wave 2 must not retace lower then w1, wave 3 is generally the strongest.

w4 must not retrace more than w4 and wave 5 is the final wave. ass well there can and usually has minor waves in each major wave, have a look on daily, weekly amd monthly charts to see these or even intra day. i use Advanced get with e signal is has auto elliot and some auto gann tools, it does save time but need to understand how they work as you would know.

have a look at the 1.68 rule, everywhere in nature, it does play a part but it you overlay mva shorty and long term they are a great tool for real price action, have a look at sept 11 , 2001 and put on some mva, 10, 20 and say 72 on a daily, you would have been short about a week before the nightmare.

happy to show you more as it is a worthwhile tool to learn, can kept you in a trade, or out of it. like the turtles not alway correct but can make you the cabage you would like for the new GT3

make or break on the h&S over the next few days. it would be nice for io settlement of contracts