Hi all - Vincent here - BDS, MBA, intermediate trader, wine lover and disciple of Jedi Master Mathers.
I trust we are all having a lovely time during this correction...? Yes...? Maybe Not...?
Topic of Interest: Wave B Targets with Brie and a SA McLaren Vale Shiraz
Consider the following: XJO High 1/11/2007 6851.50
Do we have 5 Waves to the downside...? Looks like it to me...? XJO Low 5039.60 17/3/2008 [interestingly the A wave down is 21 weeks...spooky]
If we are correct and have 5 Waves down and if RNE is correct we may now be seeing a B Wave rally - if so, what are our potential targets for B Wave top...?
Well let's see...have another sip..mmm...I think I read somewhere that Zig Zag corrections have an A-Wave with a 5 wave structure...let us stick to that for now...it then follows from RNE that potential target range could be: 38.2% = 5732 to 61.8% = 6159.
Sounds good so far, so we wait...we eat, we drink...we hypothesize that if our self-fulfilling prophecy is correct we may be able to short XJO if it pierces up through 5800 and falls back down....the blood pressure is rising - we've cracked the secret of the correction ! [My wife sings out "Yeah right, I've heard that before...]
OK...hang on a second...we are getting ahead of ourselves...have some more cheese...the wine has gone !
If different people describe the same wine differently...
and different people describe the same cheese differently...
it stands to reason that different people describe the same XJO stock chart differently...
Shucks...put the crystal ball back on the shelf for a while...Trade what we see NOW....Keep in mind what needs to happen for RNE's Zig Zag to hold true...? and, when are we wrong...?
Protect Capital for 1 important reason - wine vintage is just finished and it is a cracker.
Happy Trading.
Comments Welcome
Vincent
PS: excellent BLOGS Matt