In Section 10 waves, wave cycles, projections, and retracements were discussed as the basis for forecasting. Section 11 brings together additional elements to support a forecast, such as moving averages, stops, and retracement tables. In addition, projections are viewed on a more comprehensive basis by looking at confluent targets within tables.
QUESTION 11.1 M Weekly as of August 11, 2014 (Refer to ANSWER 10.1)
The monthly chart above shows that following the 54.82 swing low a 61.00 swing high was made.
Given one down wave, 61.26 – 54.82 – 61.00, what is the smaller than target?
Here's the retracement table from the swing lows shown on the chart to 61.00. Is the smaller than target confluent on this table? Shade in any cells you deem important. Add any further comments you deem appropriate.
From
54.82
56.37
21%
59.7
38%
58.7
59.2
50%
57.9
58.7
62%
57.2
58.1
89%
55.5
56.9
Here's the support DevStop table. Do you find corroboration for the smaller than target? If so, shade in any cells you want to point out. Add any further comments you deem appropriate.
Support
Dev1
Dev2
Dev3
Dev6
Daily
59.2
58.7
58.1
57.0
Weekly
57.0
55.8
54.3
51.8
Just looking at the candlestick chart, where would you draw a ...
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