GSK going sideways

Yeah, the move down from Aug 7th would appear to be a 3 wave correction as it stands;of course it could develop into something entirely different.
With regard to Elliot waves Jackozy is 'the man'. As Remo says, and you have no doubt found out, the basics are pretty straightforward. It's the application to a live chart that is the problem, especially all those silly little moves that 'get in the way' I try to use them as a direction indicator in conjunction with fibs and supports and resistances but, in all honesty, I'm never really sure any of my labels are correct.
Let's hope the bounce trade on GSK works out:S

Thanks for your reply, when you say a sub-wave C, do you mean Elliot waves? I would like people’s views on using Elliot waves on shares, as I’ve always thought it should be used on the indices only eg. dow, FTSE, but just my view may be wrong in thinking this, maybe we could have an Elliot wave section on the chartsview forum or in the learning section for the basic understanding of the wave principles, I understand the 1,2,3,4,5 & ABC main wave basics.

http://screencast.com/t/4FdP7dZqW1u

Looks like this has been in a range for most of the year. The current down move appears to be a sub-wave C heading to the oblique trend support at 1395ish. A long from the support, wherever it maybe at the time, and a stop at 1387. Aim to scalp at 1425 and hang-in to 1450 for the longer term would be my best bet.
I could be completely wide of the mark so DYOR.

first post on here, so easy on me!

picasaweb.google.com/1134289376813146303.../5801454340290182946

getting near to the 1400 mark, looks like sideways movement for a while now arround 1400 to 1500,any thoughts on GS

K?