glennmercer
Short

GOLD SHORT: Potential Drop At Cypher Completion

FX:XAUUSD   Gold / U.S. Dollar
I want to see price rally toward the PRZ of the potential cypher before selling GOLD             . We may see a drop from current levels. This will happen if the previous degree fourth wave has already been completed. This trade will capitalize on a selling opportunity if the fourth wave is not yet complete, which I believe is a strong possibility judging from the wave structure. More updates to come. Cheers
Thanks for sharing.

As far as I know there's no such labeling as wxyxwxy in Elliott wave method (both old and new).
It's either wxy or wxyz.
And of course as you know you cannot having a multiple wave in a multiple wave!

Thanks again.
Reply
glennmercer PRO TareqGhanem
Hi Tareq. Thanks for the comment/tip, always appreciated. The labeling for double combination corrections should be WXY, and WXYXZ for triple combos. The x wave serves as any three wave sequence against the actionary move of the current degree structure. If you see a WXY WXY WXY it must be on differing wave degrees. For example, a WXY may serve as a higher degree X wave. Is there an example on the chart where you see an error? Thanks again, great comment
Reply
TareqGhanem glennmercer
Hi, and thanks for answering.

What I was saying is that there's no such labeling in Elliott theory as wxy-x-wxy, all in the same wave degree, like what
you labeled here in your idea.

As far as I know there are only two kinds of combinations: either double OR triple abc's (D3 or T3), which are labeled wxy OR wxyxz respectively.

Like mentioned in the following links:

https://ewminteractive.com/how-to-read-a-corrective-combination/


https://www.wavetrack.com/newsletter/identification-of-a-rare-double-three-d3-pattern.html

Thanks again.

Reply
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