Here is my prediction for YETI. We are able to count the 5 waves properly by using a parallel channel . This means that the correction following the 5 waves is a wxy correction where the end of the (x) wave reaches a higher price than the start of the (w) wave. This is a perfectly legal correction following Elliot's rules. Also a confirmation on this correction can be seen if we look at the end of the (y) wave. If we draw a horizontal line from the bottom of (y) to the bottom of subwave ii within the 5th wave in the channel we see that they pretty much are at the same price level. This is also another observation that Elliot noticed and talked about occurring pretty often. This leaves YETI to be done with its correction and now begins the road of another impulse wave.
Looks like the double top going into earnings next week.
@johnpfeifer4, Yup. I have an upcoming 5th wave that will happen soon. Most likely will occur once ER hits. Here is my latest YETI post:
ElliottWaveCalls ElliottWaveCalls
I believe we could see a flat 4th wave, and 5th wave begins on ER. Or we see correction end very soon and we complete 1st and 2nd sub waves within the 5th wave and begin 3rd wave on ER. Although i think first option is more likely.
Playing out well. . . .
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