RR1 3.85% 1.3¢ reach resources limited

Chart, page-183

  1. 473 Posts.
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    Hi mate, also using Elliot wave theory here but I feel your RR1 count which has the wave 2 correction taking 8 months and the wave 4 correction taking only 1 probably favours a different count. Seems pretty unlikely they would be the same degree IMO. Your wave 4 also dropped into the wave 1 area multiple times including a daily close.

    I'm looking at this as possibly two or three wave 1 and wave 2's. This is what I'm hoping we are seeing but it's on the verge of being invalidated. I have an alternative count which is a bit less exciting. There are quite a few possible wave counts here at the moment so it's important to keep watching closely and ruling them out as the data keeps coming in.

    I don't like how it's also dropped through both 62% fibs but I bought back in at 1.2c for the impending results.

    https://hotcopper.com.au/data/attachments/5639/5639927-de56b0acb987b3ea48251f02864d5695.jpg




 
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