Wednesday, June 21, 2017

[CBDS] update

In an allowable variance from the backlink model, CBDS fell to around $4.25 today in 3 waves making my top model appear as shown below:

But of course, it is wacky to even think that anyone could have any chance of correctly making a prediction like this.  That is what you are thinking, right?  Be intellectually honest with yourself.  There is either nothing to this Elliott wave stuff or you are missing out on a big opportunity for not employing this technique in your trading.  It cannot be both ways...

In truth, it can still go either way which is why the Elliott wave models have triggers for determining when the model is busted.   In this case, a move below red 4 busts this model.  It is fairly cut and dried. 

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