NYSE:WHR   WHIRLPOOL CORP
81 16 2
Notes on chart. I'm not schooled in e-wave, but if price completed a 5 wave, I would think more upside is in store.
Is it not true in e-wave that wave 4 cannot trade into 1st wave down levels? So could we see an quick pop up to the MA's and than more downside? Into the longer drawn uptrend?
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timwest PRO FutureMeDead
Remember to have alternation between (ii) and (iv), in price, time or complexity. And look for (i), (iii) or (v) to be 1.618x the next longest wave. So even the first one isn't correct.
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Correct. However it is important to advise that those are guidelines and not rules.
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KLang PRO timwest
And this is why every time I think, "I should learn more about e-wave"...I end up not doing so - lol. In fact I started a book some time ago the first two chapters where easy peasy, and then it was a brick wall for me.
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Practice makes perfect. You are already a harmonic trader and understand Fibs pretty well. I would say incorporate EW when a pattern is textbook to bolster your confidence in harmonic pattern. If the EW is complex, bypass that form of analysis and do as you normally do.
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KLang PRO FutureMeDead
Good plan. :)
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KLang PRO FutureMeDead
Cool - so why not a 5wave? Looks like you have this labeled as something else...
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