Lloyds

Not an expert view but;

This is what I see and how I would count the current waves, but there is a good chance this is wrong..

Weekly Chart.

dl.dropbox.com/u/43650856/Lloyds%20Weekl...-%20%209th%20Jan.htm

Wave 2 retraced over 76.4% which is ok I think.

Wave 3 has passed the 1.618 of wave 1 which is great for whoever bought it at 25-30p and is ok in wave terms too, I think.
It could go higher, (I would not sell it to trade wave 4), but if it did fall to 41-43 area I might buy the wave 5, depending on signals then..

I would like to hear others views on this also..

Broad Rock,

Yea, I have been taught that wave 2 can retrace anything between 50 and something like 78%, although it has been known to retrace further, as long as it doesn't retrace 100% obviously.

Wave 5 is often a similar length to wave 1 as well I have been advised.

Everything you state in your post fits in the EWT guidelines from what I have picked up.

The way i see it though, there are set rules within the theory obviously, but alot of them are just guidelines with flexibility - there is a heck of alot of subjectivity and scope.

As well as Jackozy et al - I have saw some great material on dailyfx website aswell

This has probably been posted before aswell:

dl.dropbox.com/u/63552262/Resources/Elli...Wave%20Principle.pdf

Wave 3 may have come to an end. Possible direction of Wave 4 based on the length and time of Wave 3?

Thoughts?

dl.dropbox.com/s/jeb5ivj4rd7umm3/Lloy%203.png

To the EWT therapists

Could the recent retrace be the 4th wave of wave 3?

I'd really appreciate some thoughts on where you think this could go next. From reading up on EWT my understanding is that this wave could either by the start of a wave 4 or could be a sub wave before the rise to 261.8 Fib before we see a wave 5.

I have been using the following link as a basic guide and it seems to be meeting quite a lot of the criteria for 5 waves.

www.tradingfives.com/articles/elliott-wave-guide.htm




Any thoughts/opinions would be great.

I never done EWT..but the signal I do like is MR 50 day
regardless of fibs, waves, and everything else a close below trendline and 50 day would imply at least a 10% drop before risk/reward was good...I just commented on another share about the 50-55 braket and personally I'd bail on a close below 48 (3% trendline rule)