hi kman,
nice chart - two elliot principles apply here:
1. 3rd wave in an impulse can't be the shortest
2. 4th wave can't intrude into the 2nd wave's territory
This tells me that the most likely structure (so far) is two consecutive impulses, separated by a correction and followed by a correction - ie, an incomplete upwards 5-wave impulse. What you have labelled as A-B-C would be the 4th wave in the structure, and what you labelled as wave 5 would actually be wave 3.
that's just my opinion...
it could turn out that CBA has completed a 3-wave upwards zig-zag correction, and what we are seeing now is the start of a downwards impulse - but I doubt it - far too messy for a downwards impulse...
the most I would hope for is a bit more messy correction down (so I can dump my shorts) before CBA surges up to new highs in the 5th wave...
hope that helps..
regards,
ultrafart.
hi kman,nice chart - two elliot principles apply here:1. 3rd...
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$131.66 |
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