1/ This new idea is based on the previous idea below, rsi possible extended 1st wave like our spx. Nothing guaranteed
here just an amazing similarities (chart # 1).
2/ The previous idea is coming handy for "Gaps behavior " and how they usually appear in waves 3 & C. Well it kind
of supporting this idea of an extended 1st wave. Here it is below (chart # 2).
3/ Combining these together kind of make the argument for and extended 1st wave is more probable, or not.
4/ So what's next, well Elliott Fibonacci Retracement and Extension Guidelines for an extended wave 1 as follow:
If wave 1 is extended, then the size of wave 3 through to the end of wave 5 is often 61.8% – 78.6% relative to the size of wave 1
If wave 1 is extended, then wave 2 and 4 are very likely to be shallow (i.e. 23.6% – 38.2%)
If wave 1 is extended, then wave 2 will often end at the level of sub-wave 4 of 1 (i.e. the internal wave 4 of wave 1)
4/ That's would put the probable target for this bull's move since March's low between .61-79 fibs with
minimum requirement @ 4122:
here just an amazing similarities (chart # 1).
2/ The previous idea is coming handy for "Gaps behavior " and how they usually appear in waves 3 & C. Well it kind
of supporting this idea of an extended 1st wave. Here it is below (chart # 2).
3/ Combining these together kind of make the argument for and extended 1st wave is more probable, or not.
4/ So what's next, well Elliott Fibonacci Retracement and Extension Guidelines for an extended wave 1 as follow:
If wave 1 is extended, then the size of wave 3 through to the end of wave 5 is often 61.8% – 78.6% relative to the size of wave 1
If wave 1 is extended, then wave 2 and 4 are very likely to be shallow (i.e. 23.6% – 38.2%)
If wave 1 is extended, then wave 2 will often end at the level of sub-wave 4 of 1 (i.e. the internal wave 4 of wave 1)
4/ That's would put the probable target for this bull's move since March's low between .61-79 fibs with
minimum requirement @ 4122:
Comment:
Getting Invalidation on the 1 Hour chart, not good for our count. Unless this is a flat
of some sort we need it to finish to recount.
of some sort we need it to finish to recount.
Comment:
This count is still my favorite count. Playing a text book Elliott wave count here
lets follow through this and see how far can we go up & whether it plays out as
numbered or no. Only time will till.
lets follow through this and see how far can we go up & whether it plays out as
numbered or no. Only time will till.
Comment:
Text book bounce of wave 2 from the shaded area. Beautiful ATH @ wave 3, this count getting stronger with time. we shall see whether it fully plays out or no. 3ed wave should ends at 4269 if no extensions involved.
Comment:
This is still our favorite count. Holding strongly.
Comment:
Moment of truth !!! coming soooooon !!! stay nimble , stay wise & stay cautious .
Wave 5 of 5 o f 5 o f5 of March's low is starting or about to start + we could get truncated.
Wave 5 of 5 o f 5 o f5 of March's low is starting or about to start + we could get truncated.
Comment:
Still text book Elliott wave count holding.
Comment:
All in one place, our favored count is still standing enjoy.
I do more in depth studies of stocks on my twitter account. Hope you would enjoy it there as you are enjoying it here.
****** Past performance is no guarantee of future results***
twitter.com/samitrading1
****** Past performance is no guarantee of future results***
twitter.com/samitrading1
wish you all the best.