CBA TA update, page-1128

Thanks Bob....u are very brave to make such bold predictions, which takes courage. However, this post addresses an earlier post in which you invited comments on EWT:

As a novice with no experience, I cannot dispute your calculations or your conclusions, but that is only within the strict theoretical framework of Elliott wave analysis. More generally, I think T/A of this type is a load of BS, as it attempts to predict human behaviour which is much more chaotic and complex than the theory is able to explain. Nevertheless, it is interesting enough to have to have seized my attention, and I'm keen to learn, so I'll watch with interest for the next 'wave'. This is not the answer you were looking for, but I hope the predicted price of $139.84 which you say wave 5 is predicting is realised, not because I'm convinced that it has any merit, but because I'm a shareholder. If it IS realised, then u have a right to claim "Yes, the theory works", but if NOT, then u can also claim that it's entered a corrective wave...so, the problem is how or when do we know we've reached the end of a wave..? This enigma applies to both impulse and corrective waves. In our case, wave 5 is of interest because you have drawn attention to it, so I found this after a casual search (not research).

The 5^th wave, if the longest, typically travels 1.618 the distance of from the start of wave 1 thru the end of wave 3.

Prediction

• There are numerous methods to project the length of the 5th wave. Using clustering of them all provides some much needed insight into the probabilities.:
  • Wave 5 = Wave 1
  • Wave 5 = .618 or 1.618 of Wave 1 + Wave 3
  • Wave 5 = Wave 1 (100%)
  • Wave 5 = 1.382 or 2.00 of the Wave 4 move
  • Wave 5 = 1.382 or 1.618 of the swing prior to W1.
• When truncation occurs it signifies that the market is ready to move in the opposite direction, and early. There is a sharp, swift, move in the opposite direction. Almost a straight line. As one might expected, truncation usually predicts a much longer Wave A in the correction.
• When wave 5 is extended, the most common multiple for its length is 1.618 times the length of wave 1 through wave 3.

How, can we use this as a predictive tool, when it's so imprecise and subjective in its method. I think your "left-handed Fibonacci digit-wobbler" is broken mate, and you need a new one.