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Cabbie

9,282 Posts.

833

03/05/21

14:16

Post #: 52896981
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Originally posted by FlashPoint: ↑

Did that chartist mention something like over time? If something happens over time, it happens gradually during a period of time. Did that chartist at any time mention that he sees LTR going through a wave (4) move down and that wave 5 up would only start once the low of wave (4) down was established?
Now here is a corrected graphic that has been presented here by certain chartists, who didn't see the somewhat obvious mistake regarding wave 4.

Following from that graphic wave 4 down could reach Fib 38.2 % or 36c, Fib 50% or 30c and even 61.8% or about 24c of wave 3 up, without being out of the ordinary. However most wave 4 moves seem to settle for Fib 38.5%. So I would suggest we should wait and observe what's going to happen around the 36 - 36.5c level, if that level is reached before we start talking disaster, crash or even markdown during a distribution, wouldn't you agree?

Most commonly, change over time is defined as the time elapsed from the last good part of the previous run (Wave (3) up), to the first good part of the following run (Wave (5) up). The important part of the definition is the qualifier “good,” because a successful changeover is not complete until the new part run is meeting quality standards. So we wait for the wave (4) low and the beginning wave (5) up is established over time.

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Interesting, now re-aligning your charts with the distribution cycle.

LTR Price at posting: 37.5¢ Sentiment: Sell Disclosure: Not Held
1 Upvote

0 Great analysis

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