MRQ - chart thread !, page-1249

Here is my moving average system with Elliott wave, trendlines, bollie bands , I havnt bothered with fibonacci cause the first step is to get past the upper trendline, get past that then we can look at fibonacci targets, you can see clearly we have higher highs and higher lows, elliott wave is very useful for entry and exits of stocks especially for traders like me, once you understand it, then you can plan your entry and exits with aplomb, cause everything is repeatable, wave 1, 3 , 5 is where i ride and wave 2 & 4 plus abc 5 , is where I exit, rinse , repeat, money for jam if you know what you are doing.

MRQ has reset back to wave 1 , which should surpass the heights of wave 5 .........thats the theory.

Tale of the tape for MRQ

a) SP is within the bollie bands............tick
b) 5 & 9 ema cross 20 sma.................tick
c) MACD, RSI, STOCH, all have plenty of room to run............tick, tick, tick

If you would like to know more of EW, then go to youtube and type in " the worlds simplest explanation of Elliott wave theory "

Its a good tutorial for beginners.

What do you reckon @2ic ?

imo