Started reading the Elliot Wave Principle recently. I'm very beginner on Elliot wave but it has definitely changed my trading even with what little I've taken from it so far.
Trade is on.
Don't have time for a big write up, but hopefully the chart is clear enough.
I'm always up for critique or improvements on my analysis.
Good luck!
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To be clear, this is a very broad stroke working chart on weekly time. When some more price information emerges, I will drill down to daily and adjust wave degree and count.
I think it is a wrong mark up. Wave (3) can't be the shortest one in impulse. In both your options it is the shortest. Just my opinion
bright_infinite
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@nnovikov, thank you for the feedback. I'm working from that absolute simplest and first figure in the Elliot Wave Principle book (figure 1-1). This setup is a rough weekly projection, and also relies on my incomplete understanding of fib levels/elliot wave relationship. I'm sure it will change as the price unfolds and i'll have to get more granular with both wave degree and time frame. I appreciate the comment. It's got my nose back in the book.