ha ... got me there!
There have been two times when a little FA has been needed in particular. Both identified as green arrows in the following chart. The first one was when RAC confirmed the (first) Israeli trial validated the performance of (then) Bisantrene as it had in the ? 70's.This combined with the Covid crash screwed the chart so the wave counts never made sense and still don't historically UNLESS you combine a little FA with the TA.
The second time was more recently around $2.50-3, when the news from CoH started the current FTO wave (the second green arrow).
EW's make sense if nothing FA changes too much ... as they are all about fear v's greed, but if and when the FA significantly changes then the wave count and EWs have to be recalculated IMO
That's right where we are now ... the start of the FTO chart for Zantrene, at (more or less) the completion of the AML chart for Bisantrene.
So what we're all looking for now is whether the big W takes effect or not .... itself totally dependent on Zantrene / FTO. (And that sell-off under what was a symmetrical triangle is probably the result of the sales of DrG's shares ... which if you follow the FA are 100% understandable IMO)
(Look up W's in chart patterns)
RAC - Charts & Price Action, page-8624
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