SPX Elliot wave, Only if you believe March's low is 1 of 5 then
this is 5 of 5 unfolding 3651 is target then 50-60 % correction ABC for wave 2 , if we break March's low this count is invalid !!!
THIS IS ONE OF MANY SECNARIOS OF ELLIOTT WAVE. Remember, some other counts suggest that we will have the crash just
like 1929 to complete super cycle count !!!. Another one is suggesting this march low is 1 of 5 of super cycle of 1929 !!!. Each
group is defending their grounds :-) and claiming they are right. TIME WILLL TELL.
wish you al the best.
THIS IS ONE OF MANY SECNARIOS OF ELLIOTT WAVE. Remember, some other counts suggest that we will have the crash just
like 1929 to complete super cycle count !!!. Another one is suggesting this march low is 1 of 5 of super cycle of 1929 !!!. Each
group is defending their grounds :-) and claiming they are right. TIME WILLL TELL.
wish you al the best.
Comment:
Hey guys,
1/ Wave 4 usually retraces 23.6% or 38.2% of wave 3
2/ If wave 4 retraces more than 50% of wave 3, it is quite often not a wave 4.
3/Truncation A truncated fifth wave does not move beyond the end of the third.
Truncation gives warning of underlying weakness or strength in the market.
4/ we need to Waite and see how this dip is unfolding to recount September, 24' low. (if 5 waves then we just starting a correction if and ABC then we will get extension somewhere and will go higher)
Conclusion: THIS COUNT IS OFFICIALL NOT RIGHT. As i mentioned on October, 15 2020 this leg up is not a good time to go long, we were right in that (see previous post)
wish you all the best.
1/ Wave 4 usually retraces 23.6% or 38.2% of wave 3
2/ If wave 4 retraces more than 50% of wave 3, it is quite often not a wave 4.
3/Truncation A truncated fifth wave does not move beyond the end of the third.
Truncation gives warning of underlying weakness or strength in the market.
4/ we need to Waite and see how this dip is unfolding to recount September, 24' low. (if 5 waves then we just starting a correction if and ABC then we will get extension somewhere and will go higher)
Conclusion: THIS COUNT IS OFFICIALL NOT RIGHT. As i mentioned on October, 15 2020 this leg up is not a good time to go long, we were right in that (see previous post)
wish you all the best.
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
we are just 9 points from Invalidating this count be careful guys !
If wave 4 of 5 breaks 50 % Retracement of wave 3 just around 3436
then this count possibly wrong, even if the ultimate invalidations is
when crossing into wave 2 .
Guys PLEASE PLEASE this is not a time to go long be wise even if you lose an opportunity i pray that all of you will be safe in this possible LAST LEG UP.
wish you all the best.