See bullish RSI divergence on the daily chart. I believe we have a sub-wave 5 to complete for a full ABC correction. Expecting the retracement to hit around the golden zone .618 to .65.
your large wave 2 cannot retrace more than 100% of wave 1. it has. can you comment?
tr3mblay
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@johntutty1, I never count the wicks on wave 1 and the bottom of wave 4. If you remove the wicks it still falls within the rule that wave 4 cannot retrace based wave 1.
johntutty1
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@tr3mblay, oh and i like the charts, by the way...
tr3mblay
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@johntutty1, like this. I should have just shown that from the start but only noticed after i posted. I was hoping nobody would notice ;)
johntutty1
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@tr3mblay, it was wave two i was concerned about going below wave one, dosen't that invalidate it? im just trying to figure out if it is a reverse expanding triangle or what it is, in elliott waves.