Overview: let's review the expectations of the previous update:
We have peaked for wave (I).
Wave (II) to take a considerable time to complete.
For now, I am considering a triple zigzag to from in wave (II), but that's no guarantee and as time passes, we will gain a better insight.
Update: NVDA followed the proposed path beautifully. I think we have completed wave x of (II) as a triple zigzag and next will have wave y of (II), which I think is going to be slow and bore many out of their positions. Also, we will probably move inside a channel parallel to the major one as shown on the daily chart. Note that as time passes, I remove some of the subwaves' counts of previous waves to have a cleaner chart.
Hello, can I use this indicator for small timeframes 5m or 15? Please let me know. Thanks
bamdadsalarieh
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Hi @Stryker26, you can use the Harmonic Elliott wave principles on any timeframe, I use it on the 3-min chart mostly for my daytrades. Note that as the timeframe gets lower, the counting gets trickier and needs more experience.