Unlikely Elliot Wave Count for S&P (4 Hours DOJI Month)
One of the counts that I like the most is the Triangle for this Doji Month. What deifnes better a Doji than a Classical Elliot wave Triangle?
In this case wave A fits very well with the guidelines as wave C is 0,68 the length of wave A. Wave B of the triangle is the most controversial as doesn't fit well within the guidelines at naked eye but you can force a previous Expanded flat that could do the trick in nature.
Wave C also fits well with fibonacci guidelines and looks pretty solid.
Wave D is in progress and the first move looks promising. We have to see a rejection when wave D is complete for a final wave E.
As triangles appear as single structures or in B position, I tend to think that we will see an impulse or a three waves up when finsished.
Have to say that this is pretty unlikely specially for this B wave, but I understand the nature of Elliot wave counts and patterns as a way to understand sentiment rather than a way to trade.
Hope it helps.
In this case wave A fits very well with the guidelines as wave C is 0,68 the length of wave A. Wave B of the triangle is the most controversial as doesn't fit well within the guidelines at naked eye but you can force a previous Expanded flat that could do the trick in nature.
Wave C also fits well with fibonacci guidelines and looks pretty solid.
Wave D is in progress and the first move looks promising. We have to see a rejection when wave D is complete for a final wave E.
As triangles appear as single structures or in B position, I tend to think that we will see an impulse or a three waves up when finsished.
Have to say that this is pretty unlikely specially for this B wave, but I understand the nature of Elliot wave counts and patterns as a way to understand sentiment rather than a way to trade.
Hope it helps.
Comment:
Oops! the 3111.69 target was hit faster than expected. Are we only missing E ? Time will validate or invalidate ;-)