Nathanael

NBG death, or finding a temporary bottom?

NYSE:NBG   NATIONAL BK GREECE S A
205 9 2
What I thought was previously a flat, is looking more like a impulsive 5 wave down. Now, is this the death of NBG             , or a temporary bottom?

The fib here is the length of wave 1. We are going so low, I highly doubt that we will retrace a full 100% of wave 1, but you never know. I would wait for more proof of a bottom (heavy volume , etc) before trying to catch the falling knife.

modigliani10
2 years ago
im not an Elliot wave fun but I think wave 1 is not an impulse (wave 4 overlaps with wave1)....
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Nathanael modigliani10
2 years ago
you're right
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Nathanael modigliani10
2 years ago
here is an improved count, but this count says we are at bottom if wave 5 = wave 1, so who knows. I still think we are at, or near long term bottom.
snapshot
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chessnut Nathanael
2 years ago
This count looks pretty sound, but if wave iv is triangle, wouldnt the fib extension of wave iii latch onto that spike (wave e) of the triangle? that would make it look like wave v of V to come.
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chessnut chessnut
2 years ago
sorry youv'e covered that already .... should have seen
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modigliani10
2 years ago
could it be irregular ABC?? waiting for wave C ?
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modigliani10 modigliani10
2 years ago
I mean the whole down movement can be considered like abc which is wave B (irregular)....we are now finishing wave 5 of c
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Nathanael modigliani10
2 years ago
yea that is a possibility, my initial thought was that we are in some large ABC.... but B just kept going down. It starting to seem more like it was a C wave to me now
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donniebrasco
2 years ago
Great fib retracement. Spot on with the movements. Looks like 2.09 will be a good resistance point given the recent news.
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