BGS Chart !, page-899

AH, nice to see some "charting" posts coming in on a "Charting" thread.... May I add to some excellent recent posts as well?

Elliott Wave Theory stuff .... 1st, I want to state I do not rely on EWT alone for trading entries; I personally prefer identifying what I call "Wave Personality"; i.e. identifying whether a swing is Impulsive(trending) or Corrective. However, having said that, I do 'respect' some of the basic rules Elliott provided(identified).

One is his Rule of Alternation ... Basically that means(for a implusing/trending stock like BGS) ...

"Waves 2 and 4 typically show alternation between "flat" (sideways) type and "deep" (sharp) corrections. If wave 2 was "deep",  like a zigzag (most typically), then we can expect wave 4 to be "flat" type of correction : a **triangle or flat."

**triangle ... usually has 5 x 3 mini waves within its construction ... an 'abcde' as it were.

Isn't that rule, and pattern, just like BGS's chart since its re_listing(Aug. 31st, 2017)....

If so then today's low at 73.5c(73c to be exact) is probably the end of minor wave 'e' for a wave 4 low of a 5 wave advance of the expected (initial)Impulse wave since that re_listing. And **if wave 4 is in then wave 5 should commence very soon and reach its "standard" target of 99c.

P.S. ** wave 4 target could still get down to as much as the low 60's and not distroy this rule of alternation(i.e it becomes a FLAT).... BUT at this stage I'm not favouring this to happen.