Morrisons

This is now in the target zone to start moving back up.
SL below 270.
Target 303.5

It will be interesting to see what happens to this in the coming week as it approaches the resistance at 286 for the third time. My chart is suggesting a wave (iii) of 3, so I'm hoping for a break through Time will tell eh

This could be worth going long on.
Its got a continuation pattern and the stop has to be below the recent low so below 258.5 so only about 5 points stop



dyor

Hi Diver, Sorry to post off topic on this thread but if you get a a few minutes is there any chance you can post some EWT theory TA on the LLOY thread. I have noticed you use EWT quite a lot so would love to hear your thoughts. That goes to anybody else that also use's EWT a lot, e.g. Jackozy. If you don't have time guys I understand.

Many thanks in advance

Amo

Sorry, that icon should read as the B wave....from 345 down to 210, unfortunately the html screwed it:)

screencast.com/t/S0mXhCyDEz




The way I see this it has two options: the SP is currently sitting at the first target, 61.8 of ((a), and could be forming either a triangle or a flat. It has also retraced in excess of 61.8 of the ( wave. It would be good if we moved forward from here but.... this could be headed for 210 and be a flat.
Overall the trend is UP, so it has to be a buy....the question is...when is the best time? And that, of course is when you, 'pays your money and makes your choice!'
I think it would be worth watching this in the smaller time-frames for signs of a change in direction - 5 swings up in the 15 minute or 5 minute springs to mind.
In short, there's no point trying to guess what will happen, wait and see. We know the trend is UP and this will ultimately head back to 340 minimum. Whatever happens you can be sure of one thing - it wont happen quickly.