DOW

Hi Gee, hope you're well.

The 100% Fib is there because that is the 100% extension of the initial drop plotted from the lower high (ie wave a of A extended from the top of b of A). This gives possible projections for wave c of A.

My blog is at www.FTSECharts.com but all the entries are copied onto the Chartsview blog which you can access at the top. Ronnie and remo have kindly set it up so that they're all transferred automatically here.

Cheers.

hi
Just wondering, why have you got purple 100% fib at 15154? I am sure there is a great reason, but I cant see it!
Thanks
Gee

Hi Jackozy

Where is your blog???

I enjoy reading your posts.

Thanks
Gee

Hi J - big waves abc 3 wave move. internal structure will consist of wave of 3's and 5's, so final C will have 5.


also area's u mention looks a good spot

trade well my friend....

Yep, nice WS. I'm looking at 14921 (23.6% Fib of the wave 3) with a stop below the previous breakout level at 14887 for a nifty long here. It's been pointed out to me on my blog that the 161.8% extension of the initial drop is also at 14934 too so there's a few levels to look at there:



dl.dropboxusercontent.com/u/20815047/FTS...owdaily05_06_13a.gif

PS Shouldn't your wave C projection have 5 subwaves not 3? (Unless you're counting it as a double three?)

updated chart -

+div still in place...bounce then more down imo. half way into the correction...next move will be quick Heavy thrust down...then new highs from from 14200-14500 zone.. specif targets to be assessed when near those levels

14900 key area

dl.dropboxusercontent.com/u/40497882/dow_channel_Jun04v2.JPG




added potential moves over till end of June...




dl.dropboxusercontent.com/u/40497882/dow_6th%20June.JPG