Australia's largest stock trading and investment forum Australia's #1 stock forum

Chart, page-1421

First 1421 Last

Share
Profile

Follow
Captain Kiethy

473 Posts.

405

16/05/23

11:49

Post #: 67796651
Share

Originally posted by Captain Kiethy: ↑

Hi @W3hunter, a couple of awful people over there on that MAY thread.

I wondered if I could pick your brain a little on this GLN chart. The chart will probably answer the question for me soon anyway, but your input is always highly valued.

On the 10-minute chart here, I have two potential wave sequences drawn. You can see the price on the orange W3 had a higher wick but a lower closing price than the high of the orange W5, would this count as a divergence and therefore the end of the sequence or does the price need to travel higher, not just close higher, to be considered a divergence?

I ask this because Elliot wave theory was based on a line chart where these wicks are not counted. So technically that would make sense.

Expand

Further to this, if I'm correct above, CXO may be finished W5 on the hourly and due for a correction which could be W2 on the daily, as it has just tested a 62% fib there.

Last edited by Captain Kiethy: 16/05/23
1 Upvote

Reply

There are more pages in this discussion • 729 more messages in this thread...

First 1421 Last