Not sure if you can label a simple 5 wave down as wy...I would think that is a forced counting
Joseph_King
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@BartGhost, I tried counting 5 waves but it didn't look right, obviously it can be anything the people who move the market want it to be but for me it looks like a set of 3 wave moves. Later will share the fibs with you.
Joseph_King
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@Joseph_King, This is how I worked it out: Starting wedge for A, then a 50% correction for B, followed by 1.618 extension for C. Then another ABC with 50% correction There is also the 5 wave count you mentioned > So the correction could be done, or it could just be 5 waves of another corrective A leg, getting a more complex correction to the move up, something like this maybe?
BartGhost
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@Joseph_King, so your first chart that you posted in reply to me where you have 3 for me that is 1 (Ld) and then 2 is where you have 4 and then we start 3 and hence https://forthhttps://www.tradingview.com/x/KLEac9na/
BartGhost
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cant post the link any so i see 5 wave down with no overlap- what i am not sure- is if this 5 wave down is the C and we had expanded B when we the high recently of 60ish or this was A now B and then C... we will see
BartGhost
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if this was C of 4 (with expanded B) notice how the overlap was avoided by a cent with Wave 1...
transparent-fx
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loving the fact that you share your ideas, i also provide valuable content, go check it out if you want
Joseph_King
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@transparent-fx, thank you. Hope people know these aren't trades, just ideas to give others ideas. Will check out you work today.