Looking for the elusive top has been interesting. Just where is the top?
We have been Updating wave counts as the 5th wave expands.
For what it's worth (not much) here's the Old Fart's thoughts.
Notice the Purple channel in Expansion mode. See the channel median line? Then look at the upper projected top channel line.
Next look at the 2 targets shown. This depends on how strong the red wave 3 is.
The Black 1.618 fib shows about 3315... but could go higher as the pink dashed line shows.
Next, the red wave 4 should be a sideways formation due to red wave 2 being a sharp! (Elliott rule of alternation)
Then the final red wave 5 could land nicely at the 3323 target 1.
Ahhh... Here we have a nice confluence of the channel expansion limits and the .618 fib of the yellow label wave 3.
Also note the 2.0 fib in black. This could be the limit.
However if we get the parabolic blow off as shown by the pink curved line the higher 3331.93 target should be obtained.
Breaking the expansion channel limits is typical in a parabolic move.
It's getting to a full Elliott wave count as the previous astro trade projections for the rest of Jan have pointed to.
We are long for just a bit more and will buy lots of puts near the wave 5 of 5 of 5 of blue label 3 wave.
That could be a good place to be short.
We have been Updating wave counts as the 5th wave expands.
For what it's worth (not much) here's the Old Fart's thoughts.
Notice the Purple channel in Expansion mode. See the channel median line? Then look at the upper projected top channel line.
Next look at the 2 targets shown. This depends on how strong the red wave 3 is.
The Black 1.618 fib shows about 3315... but could go higher as the pink dashed line shows.
Next, the red wave 4 should be a sideways formation due to red wave 2 being a sharp! (Elliott rule of alternation)
Then the final red wave 5 could land nicely at the 3323 target 1.
Ahhh... Here we have a nice confluence of the channel expansion limits and the .618 fib of the yellow label wave 3.
Also note the 2.0 fib in black. This could be the limit.
However if we get the parabolic blow off as shown by the pink curved line the higher 3331.93 target should be obtained.
Breaking the expansion channel limits is typical in a parabolic move.
It's getting to a full Elliott wave count as the previous astro trade projections for the rest of Jan have pointed to.
We are long for just a bit more and will buy lots of puts near the wave 5 of 5 of 5 of blue label 3 wave.
That could be a good place to be short.
Comment:
Also of strong importance is the black line coming in from the left. That is the upper boundary line from Nov 2014 highs! Extremely important upper limit which intersects the upper median line circled in red