GKP

'Fair enough, I just struggle to understand how these theoretical levels can be used to make money when the first is 100 points away from the third.'
Trying to understand the Golden Ratio is not in my remit. For this you need to consult a higher power How it works? Why it works? I have no idea.....but it does and that's all that matters.
'The real question is when does one plan to buy but to ask that is a little crass'
The question is not crass at all. I don't understand why you say that? It's simple, you buy when you can see a five way move in the opposite direction in a shorter time-frame from that which you are trading. So, for example, if you are trading the daily then look for a five way move on the 4 hour. If you jump in before this then you are gambling against the move being an extension. This will always keep you on the right side of the trend.
Don't be fooled into thinking this is a complex system. Far from it, it's just all those labels that make it look that way. Once you get used to all the 'squiggly bits' it's very simple indeed
Take care and stick with what you know

Fair enough, I just struggle to understand how these theoretical levels can be used to make money when the first is 100 points away from the third. Unless of course we reach 68. I can only assume that one is supposed to buy at all three.

The real question is when does one plan to buy but to ask that is a little crass.

I will continue using my simpler trading plans. The simpler they are the more people will follow them, which is the goal.

I of course wish you good luck with yours and will congratlate you at all three levels.

F4T.

If you wish to look at it that way then so be it...I prefer a more considered view: the first target being 161, the 129, and worst case 69 - just like using supports. Using this method keeps me on the right side of the trend which I consider all important; and has proved extremely accurate over the last two years.

I think we should just accept 'different strokes for different folks'!

So your prediction is either 161, 129.51, 68.64, 157 or 146.14.

I rest my case.

Do you have any upside targets?

PS: RSI has back tested, for what it is worth......

My analysis of EWT is based solely on fib percentages and the RSI. Predictions are therefore based on Fib Expansions and, obviously - and not to disappoint:) - you get a different answer dependent upon where you start from.
Go right back in time to when the SP was 4.55p, then to the high at 465 and we are looking at 161.



If we look closer in, to what I am labeling B; W; X then 129.51 is the target.

Now, I should say these are the initial targets: there may be extensions to the percentages. Worst case scenario being a 161.80% extension from wave B at 68.643. And, if it gets that bad then a few will have hung themselves as opposed to just a few tears



Looking close in now, the other alternative is an expansion of the current wave from X showing an initial target 157 and an expansion of 146.14.
I think that about covers it, except to say I accept no responsibility whatsoever for the accuracy of the EWT labels, which could well be complete and utter 'tosh' - but I understand them

Hi diver993,

Can you confirm exactly what your prediction is/was. As I recall, you were looking at 161 as a bottom and Remo was waiting for 149/150? Yours was based on EWT and Remo's on a trendline?

I just want to be sure so as to congratulate at the right moment ;o)
F4T

PS: what happebed to Jackozy?