Manual WPT example: (Mar) 2003 S&P500 Futures

This example shows how to use the WPT (Wave Price Targets) module in the MTPredictor software program to manually project future support and resistance levels (where the main Elliott waves are most likely to end).

Looking at the chart below, a manual Elliott wave count had identified a potential Wave (4) high ending on Mar 3 2003. The WPT module in the software can then be used to project in advance potential support areas in which the anticipated Wave (5) low is likely to end.

Please see the chart below:

From the chart above, the first support level was the minimum Wave 5 WPT, which fell at 790 - 799.

This was the projection Steve Griffiths made on CNBC Europe on Mar 5. Please click here to see a video clip of this projection.

Let's see how this turned out:

As can be seen from the chart above, the S&P declined into this support level, then reversed sharply. As such, this zone pinpointed the exact support level off which the Mar 12 low reversed - over one week in advance. This projection was made on live television. Please click here to see a video clip of this projection .

Does your current trading program allow you to identify key potential support or resistance areas in advance, as quickly and decisively as this ?

Manual WPT example: (Mar) 2003 S&P500 Futures

If not, then it is time to invest in the MTPREDICTOR 4.0 series