The DJI may be close to completing a "Wave 5 " pattern on the large charts, this would be the end of the strong bull run if this was the case. Into the final parts of the move we typically see a false bearish breakout in wave 5 ending under 38% retracement and then we see a parabolic move into the final high. Both of these conditions have now completed from the start of the March 2020 Covid crash to the current price today as we head into September 2021.
@danwhaleneth, Damn dude I just noticed what post you're commenting this on.
You know this was the DJI high, right?
I'm not one to put strangers down online but I'd respectfully suggest your forecasts of Matic doubling when it went down 75% were a little worse than my forecasts of a bear market coming in 2022.
You might want to re-think your approach here.
holeyprofit
⋅
@danwhaleneth, Here's where I went long in 2022. Main entry was 3900.
danwhaleneth
⋅
why would your broker ask you to spell anything? people should not listen to this
holeyprofit
⋅
@danwhaleneth, I was making a joke. You seem like a very literal person so we'll go with that.
I use the theory for trading. Learned the basic 5 wave idea over a decade ago. Since then have used it for my trading. During this time, it's never been required to spell it. I must say, I was unaware if I am spelling it wrong.
Thanks for letting me know.
danwhaleneth
⋅
realistically how good of an elliottician can you be when you continually misspell his name? Elliott
holeyprofit
⋅
@danwhaleneth, I'm not that good. I have the basic grasp of the impulse wave and I've functionally used it for 15 yrs.