Unless you are using a proprietary form of Elliottwave . . .
How would you explain the obvious overlapping/corrective price action of
the second wave I - II ? Shouldn't a wave I have an impulsive 5 wave count ?
And, if wave II's are counter trend moves how is it possible to have an
impulsive 5 wave count instead of a corrective a-b-c or w-x-y.
Perhaps I've misunderstood your long entry as a bullish expectation when
you are only expecting a corrective move before the down trend resumes ?
Thanks for your thoughts !!!!!
Wishing you a pocket full of pips in 2014 `~~~~~~
With an impulsive 5 waves down I'm looking for a 3 wave correction.
Originally, the possibility of a flat, but, that seems to have disappeared, already.
Thinking a short as high as the 4th wave of a lessor degree
(and in this case also the larger degree) would be an iideal
to tell me if I'm wrong with only a small risk to find out.
Anyway, I'm just looking at a classic 5 wave impulsive or motive wave
followed by a counter trend correction for an entry into another impulsive wave
or trend continuation.
Have a great weekend DT and keep them stops tight