elliot wave analysis bhp daily, page-13

Hey Sally exciting stuff! youve forced me to do a thourogh count.

I dismissed the possability of this correction being an ABC because wave B (or 2) failed to reach a 50% retrace of wave A (or 1)in that count,it should at least be a 50% retrace for a B wave. but in a 5wave count its not a 50% retrace either.

so I guess the most important thing is that the corrective sequence remains intact ie: an ABC should fully correct the prior 5th wave (stopping at the end of wave4), and a 5 wave trend should fully correct an ABC.

looking at this as an ABC keeps the sequence in tact.and projects a 5 wave rise thats corrects the current ABC to above $50.mmmm

so it will be interesting to see what happens around the 50% retrace of this current wave. a long term trendline break following support at the 50% $26.40 would be very very strong confirmation.