Elliot Wave
Please take a look at my understanding of Elliot wave and how I see this playing out. I am new to Elliot Wave theory so this is learning for me and I would appreciate anyone's input who is seasoned with Elliot Wave.
1.) Following the (3) golden rules wave (3) should be the longest wave which is why I eliminated the original wave and moved to the next as indicated in chart.
2.) Wave (1) had a $.33 increase and a approximate 49% corrective wave (2)
3.) Once wave (3) completes, we should expect a 30% correction wave (4)
4.) Then wave (5) will roughly match wave (1) and the cycle will possibly be over.
5.) If correction wave (4) low exceeds wave (1) high, wave count will reset.
I hope all of this is correct and any information and advice is helpful. Do not use this as trading advice.
1.) Following the (3) golden rules wave (3) should be the longest wave which is why I eliminated the original wave and moved to the next as indicated in chart.
2.) Wave (1) had a $.33 increase and a approximate 49% corrective wave (2)
3.) Once wave (3) completes, we should expect a 30% correction wave (4)
4.) Then wave (5) will roughly match wave (1) and the cycle will possibly be over.
5.) If correction wave (4) low exceeds wave (1) high, wave count will reset.
I hope all of this is correct and any information and advice is helpful. Do not use this as trading advice.
Aviso legal
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