The current count of long-term waves is already two years old. How much more is allotted to the wave V of (III) no one will tell you. All we are capable of is tracking the shape and structure of the wave, which should manifest itself in the form of a five-wave motive wave. _______________________________________ β US SP 500 CFD (FOREXCOM),πTF: 1W Fig.2
My experience with the Elliott wave suggests that in most cases there is an alternation of motive waves in the positions 1 and 5 of the , as well as waves A and C of a . Based on these observations, I expect waves "(C) of β " and "V of (III)" in the form of .
It should be noted that we do not predict the duration and amplitude of fluctuations inside the diagonals. Only the shape of the model. _______________________________________ β US SP 500 CFD (FOREXCOM),πTF: 1D Fig.3
Counting of the internal structure of wave 2 is variable. As will be shown in the alternative marking, there is a possibility that the in wave 2 has already formed. _______________________________________ β US SP 500 CFD (FOREXCOM),πTF: 8h Fig.4
At the moment the wave β§ of 2 is interpreted as a with a diagonal at the end. The pattern looks complete, probably the resumption of decline within the wave β¨ from the current level. _______________________________________ _______________________________________ ββ Alternative count β US SP 500 CFD (FOREXCOM),πTF: 1D Fig.5
Variant of wave 2 structure counting in the form of a completed β¦-β§-β¨. _______________________________________ β US SP 500 CFD (FOREXCOM),πTF: 8h Fig.6
Both wave counts, preferred and alternative, offer good trading setups. The ending diagonal (c) of β§ within the preferred wave count, as well as the initial diagonal β of 3 within the alternative count, can be used for an aggressive short position.
At the end of the correction in the β of 3 wave, especially if it takes the form of a , a long position is possible, counting on the resumption of growth within the impulse in the β of 3 wave.