This is my personal view due to HUGE corona/covid19 problem. This is just analyses which are my personal opinion and not something according anyone should or could invest. Do you own research.
This is one huge ABC correction.
1. We are going to finished wave A which should be finished during April.
2. Than we will/we should have ABC correction up. This will be text book "Bull trap". Everyone (bulls, media, president trump and ect) will say it’s over. And bull trap could last for half year. Just after election for example.
3. After which we will have / or could have final C wave down. Final catastrophic move in market. This wave will arrive for sure if we dont have vancine for COVID19 which is highy unlikely
- If this played like that (TIME IS ALLMOST IMPOSIBLE TO KNOW - HOW LONG NONE CAN SAY) world economy will be toasted.
NOTE - this all will fall if sudenly we start to sky rocket today or in monday on huge volume and great possitive news - which is unlikely if you ask me.
Some people are labeling your wavelet 3 as 5. In essence they are insinuating that the A leg of the correction is over. Care to explain why you do not think that is the case?
vlalonca
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@CTLG, In my opinion wave A is not yet over, and we need to have one more wave down. We will see during this week. Of course there is numerius combination with elliot.
CTLG
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I am kind of new to Elliott Waves and the question I have been asking is, "How can one differentiate between wavelet 3 of the A leg of a Zigzag correction pattern and wavelet 3 of the A leg of a Flat correction pattern?" Wave A of a zigzag pattern has 5 sub waves while wave A of a Flat pattern has 3. This will allow one to know if it is a wavelet 4 of the A leg of a Zigzag correction pattern or the B leg of a Flat correction pattern that is forming. Is there a way to differentiate the two? Secondly what are the rules for these sub waves? Do they follow the rules of the parent waves? Is there any resources on the sub waves anyone can point me to?
CTLG
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@CTLG, I am thinking that the length of wavelet 3 is what could make the difference. The longer the extension of wavelet 3 the more likely it belongs to the A leg of a Zigzag correction pattern. The shorter ones would belong to the Flat correction pattern.
CTLG
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Among all the analysis I have been seeing this is the one that makes most sense to me, and it is very simple to follow as well as logical. Thanks.