I thought I'd remember my wife's Birthday on the internet as well as at home. After being married 41 years, I still remember to cover all my bases.
Well, as I noted on the chart, we did farily well in our projection yesterday. If you remember, on the post, when we ended the day, I thought we were in W4 of the move down and I posted targets for W4 to end. I also mentioned we might be in W4 of W3. It turns out that both counts were correct, depending on whether you were looking at a Globex or non-Globex chart. This morning we rallied to within 1 point of my target zone and corrected in W5. Wave 5 tricked me again by not having a very pronounced W4 component to it. What I thought was W4, morphed into a more substantial rally. Unless this current correction morphs again into a diagonal correction down and takes out today's low, I have to consider the impulsive move down from the Wave B high of 1174.75 to be complete.
I was asked a question today about how to trade my charts and projections. That is the million dollar question! I still have a really hard time trading even my most accurate calls. People who have never traded may not understand, but those of us who put our money on the line know what I'm talking about. I have always said that analysis is much easier than trading! My charts and projections are not meant to be the Holy Grail of trading. There is none! They are meant to give you an edge to your trading. Don't think that there are traders here today who are tripling their accounts every day. There aren't! My goal is to be green every day. I take only what I consider to be the highest probability setups, and I make the market come to me. I don't announce my trades, as a rule, because I can't take the time to manage them for the site. I have a full-time practice, and I often can't participate as much as I'd like. We have some outstanding traders here though whose trade setups are great. You'll learn who they are very fast. If I were sitting in front of the screen all day long and giving blow-by-blow analysis with managed trades, you would be paying a lot more than $100 a month! This is not a place to shadow-trade me, but rather to develop your own trading skills. If you haven't already looked at the classroom lessons, I would strongly advise you to do so. There is a lot of information there. Then, my old posts are lessons in their own right. Lots of good stuff there too. The Good, The Bad, and the Ugly!
We don't provide a day trading system. I am a probability trader that has modified a system that gives you an opportunity to learn to fish. The value we provide is in understanding setups and managing risks. However, there are times when I will give you a fish and other traders here will do the same. Also, please remember that this is about probabilities, not certainties.
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