SPX'S Elliott for Friday ,12.17.2021 Flat for 2 or X of WXY or2
Flat Rules:
A Flat is a three wave pattern labeled A-B-C that moves generally sideways. It is corrective and counter-trend and is a very common Elliott pattern.
Wave A can be any corrective pattern except a Triangle.
Wave B can be any corrective pattern except a Triangle.
Wave B must retrace more than 70% of Wave A.
Wave B is less than twice the price movement of Wave A, including internal points of Wave B.
Although there is no minimum time constraint for Wave B, it must be less than 10 times Wave A.
Wave C must be an Impulse or Ending Diagonal.
Wave C must share some common price territory with Wave A.
Wave C must be less than twice the longest of Waves A and B, including internal points of Wave C.
Wave C must be less the three times the price distance of Wave A.
Disallow back to back failures.
Wave C must be no more than 10 times either Waves A or B in price and time.
There is no minimum time constrains for Wave A.
Flat Guidelines:
Wave A is usually a Zigzag family pattern.
Wave A is rarely an Expanding Triangle.
The largest Wave within Wave A is usually less than Wave A by price.
Wave B is usually a Zigzag family pattern.
Wave B is rarely a Flat.
Wave B is usually greater than 95% of Wave A by price.
Wave B is usually less than 140% of Wave A by price.
The largest Wave within B is usually less than Wave A by price.
The time taken by Wave B is generally between 61.8% and 161.8% of Wave A.
Wave C is rarely an Ending Diagonal.
Wave C is often about the same length as both Wave A and B.
Wave C often ends at point which is a percent of Wave A beyond end of Wave A equal to the same percentage away from the start of Wave A.
Wave C usually retraces a minimum of 100% of Wave B.
Wave C normally reaches to the end of Wave A
Wave C is not often more than 140% of the longer of Wave A or B.
If Wave C is longer than Wave B, then Wave C is often about 61.8% of A beyond end of A.
If Wave C is longer than Wave B, then Wave C is often about 161.8% of Wave A from end of Wave B by price.
The time taken by Wave C is generally between 61.8% of Wave 1 to 161.8% of the shortest of Waves A and B.
A Flat is a three wave pattern labeled A-B-C that moves generally sideways. It is corrective and counter-trend and is a very common Elliott pattern.
Wave A can be any corrective pattern except a Triangle.
Wave B can be any corrective pattern except a Triangle.
Wave B must retrace more than 70% of Wave A.
Wave B is less than twice the price movement of Wave A, including internal points of Wave B.
Although there is no minimum time constraint for Wave B, it must be less than 10 times Wave A.
Wave C must be an Impulse or Ending Diagonal.
Wave C must share some common price territory with Wave A.
Wave C must be less than twice the longest of Waves A and B, including internal points of Wave C.
Wave C must be less the three times the price distance of Wave A.
Disallow back to back failures.
Wave C must be no more than 10 times either Waves A or B in price and time.
There is no minimum time constrains for Wave A.
Flat Guidelines:
Wave A is usually a Zigzag family pattern.
Wave A is rarely an Expanding Triangle.
The largest Wave within Wave A is usually less than Wave A by price.
Wave B is usually a Zigzag family pattern.
Wave B is rarely a Flat.
Wave B is usually greater than 95% of Wave A by price.
Wave B is usually less than 140% of Wave A by price.
The largest Wave within B is usually less than Wave A by price.
The time taken by Wave B is generally between 61.8% and 161.8% of Wave A.
Wave C is rarely an Ending Diagonal.
Wave C is often about the same length as both Wave A and B.
Wave C often ends at point which is a percent of Wave A beyond end of Wave A equal to the same percentage away from the start of Wave A.
Wave C usually retraces a minimum of 100% of Wave B.
Wave C normally reaches to the end of Wave A
Wave C is not often more than 140% of the longer of Wave A or B.
If Wave C is longer than Wave B, then Wave C is often about 61.8% of A beyond end of A.
If Wave C is longer than Wave B, then Wave C is often about 161.8% of Wave A from end of Wave B by price.
The time taken by Wave C is generally between 61.8% of Wave 1 to 161.8% of the shortest of Waves A and B.
Comment:
We have text book ABC and ABC on 1 Minute chart, could it be the first leg of the Y wave of WXY. Probable, and we are in corrective now, lets see what mkts give us.
Comment:
Perfect place for wave Y to have counter trend move, wave B usually 38-79 which is what we got, wee need to check the structure to see.
Comment:
Just bought 440 puts 12.31.2021
Comment:
My puts going up and down , they are dragging this wave sideways lets see what mksts give us in last hours of today. I am not keeping my puts over the weekend i am selling them today !
Comment:
My puts are down 11%, this is the moment of truth wave 3 or count is invalid !
Comment:
Closed my position, hardly made out we will get a better opportunity next time for sure 100% . Just can not sleep over night with my puts over the week end in the mkt.!
Comment:
4495.12 breaking down this number, we have no Flat "Invalidation of falt" more like WXY or something deeper down.
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