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
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.
glennmercer
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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
TareqGhanem
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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.
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.