"B waves are phonies. They are sucker plays, BULL TRAPS, speculators' paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both). They often are unconfirmed by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by wave C. If the analyst can easily say to himself (or herself), 'There is something wrong with this market,' chances are it is a B wave".
- Robert Prechter
The Elliot Wave Principle: A Key to Market Behavior
A lot of bearish divergences across TFs.. This AB movement has been anything but pretty -random volume, bearish patterns breaking bullish, a speculative FRENZY.
Profits will be taken. Don't get eaten by miners.
- Robert Prechter
The Elliot Wave Principle: A Key to Market Behavior
A lot of bearish divergences across TFs.. This AB movement has been anything but pretty -random volume, bearish patterns breaking bullish, a speculative FRENZY.
Profits will be taken. Don't get eaten by miners.