you were calling tops yesterday & so was I... it's ok , we all get tricked by ourselves at times... but the day it breaks out and proves you wrong you come out with a "grand wave 4" ?!? where is the "grand wave 4 " from 85 to 2000? wasnt 2018/2020 flat enough to be a wave 4? the market does not care about our wishes nor perceptions of decency or fair value... it is what is. I don't believe in any coming wave 4 , this is going straitgh to target as it did in the 90's imo...
Eloquent
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@LotusTrading20, i agree. i am okay being wrong, just here sharing my opinion and personal research on the market.
my account is just an archive of all the research i have done since i have started this journey, and i like to look back sometimes and see where i went wrong, to not further repeat the same mistakes in my future.
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in my eyes, this big move is a wave 3, the best example of an extended one. that's the only reasonable explanation we can give to this sort of structure
break above it and i will be happily wrong \ have to get back to the drawing board to try my best to figure out what is going on.
we live, we make mistakes, we learn from them - and in turn we prosper by not making the same ones again in the next venture
LotusTrading20
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@Eloquent, right, we all share what we see and there's nothing wrong with it... i actually do not know enough of EW my self to evaluate... just wonder if a wave 5 cannot also be as "squeezy" as a wave 3? in any case, let's say its wave 3, is there any reason it may not go much further in time & price? fib extensions? or how do you calculate the max high for it? ... it may be that you get proven right, despite however the previous comment might have sounded Im actually fairly open minded... hence the question is an honest one: say we in wave three, aren't they know to be long and tiresome? can it go + in time & price according to your methods?
Eloquent
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@LotusTrading20, well, in ewt wave 3's usually extend to the 1.618, if it surpasses that target, then it's called an extended wave 3, where the next target would be the 2.618, then 3.618, and so on until we get a correction
they are just the highest probability areas to try and short the move.
here's an example of this local eth move that's happening right now on a tiny degree