Steve, Is it (the LD) complete now? I am missing the
reference of "diagonal". I am sorry but this is confusing. Without
using Elliotese, this looks like a distribution pattern after the
uptrend -- through the up-channel -- was completed. Now it
should form some sort of a rectangle before breaking in earnest to
the downside and retracing the most of its advance, like you said.
That would be a retest of the lows at 1044 or a test of of the
MA(200). Thank you for your time!
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Steve, Is it (the LD)
Another Alternative View
Posted by junkie on 25th of Feb 2010 at 05:13 pm
Steve, Is it (the LD) complete now? I am missing the reference of "diagonal". I am sorry but this is confusing. Without using Elliotese, this looks like a distribution pattern after the uptrend -- through the up-channel -- was completed. Now it should form some sort of a rectangle before breaking in earnest to the downside and retracing the most of its advance, like you said. That would be a retest of the lows at 1044 or a test of of the MA(200). Thank you for your time!