FX:SPX500   S&P 500 index of US listed shares
465 7 5
It consists of five waves. Wave 2 is an expanding triangle, and wave 4 is a tapering triangle. Wave 1, 3 and 5 are trends. All waves of trend (3) are related by Fibonacci. Wave 1 for example, is related to wave 3 with the ratio of 1.382. Wave 3 is related with wave 5 with the ratio of 0.5. Of course, to predict the Fibonacci ratios is impossible, but these levels play a very important role in the assessment of the situation. In spite of different inner corrections formation characteristics of the trend waves, but they have one common feature –inner triangles 2 and 4 are comparably sized which mean that they are well visible on the one time frame charts. I have to go back to the description of wave 4 and to re-make the description of triangle. Now it looks like this. Tapering triangle 2 received the distortion during its formation. Here wave C has not reached the desired level. If you remember, I made a similar amendment to the expanding triangle 2. Of course, it complicates the process of determining waves and leads to errors. It is impossible to predict. But the most important rule of the triangle is fulfilled. At this place in the chart of narrowing process is visible clearly. I think we are already in wave (4). It will be a tapering triangle. I think the triangle (4) will be more than the triangle 4. Because this wave of great degree. But we'll talk about a little later. I wish you good luck in your business transactions.
Very nice. I count EW waves on Forex but mostly avoid counting on the S&P. it's a challenge for sure.
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MaximGrigorev peterdcharlebois
8 months ago
Thank you. I wish you good luck. I invite you to visit our site. It's free. http://www.stockmarkettoall.com/
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Check out my recent idea Maxim. I believe wave 3 is targeting 1.382 x wave 2.
snapshot
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MaximGrigorev nick.holland78
8 months ago
Thank you. I see. This corresponds to the classical wave theory. I know her, but I think it can not give explanation for many things. I see a lot of flat correctionof on your chart . I do not like it. But I wonder. I have a proposal. We have an opportunity to compare our charts after the completion trend. You can find details of my charts on the site. http://www.stockmarkettoall.com/ I wish you good luck.
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nick.holland78 PRO MaximGrigorev
8 months ago
I don't know "her". I learned "Fibonacci pinball" from Avi Gilburt at elliottwavetrader.net
Basically, applies extensions to the Wave Principle where each wave has anticipated Fib expectations within each pattern variation. I'll post a pic of some standard variations to an impulse. Avi's "education" site is available for free.
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nick.holland78 PRO MaximGrigorev
8 months ago
Ignore the QQQs. I just used some empty space to build the chart. Hope its not too confusing.
snapshot
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nick.holland78 PRO nick.holland78
8 months ago
Of course, there's many variations on corrective waves, as I'm sure you know. I just chose these patterns for "simplicity" on what is already a cluttered image. This is my own work, but is heavily influenced by Avi and his team.
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