We have published our new rules to use with Elliott wave count ( manuelapariciotheory.blogspot.com ) and, on friday,we have published new rules for waves b. We are calling waves b#2 when they have a retrace bigger than 50% and b#4 when that have a retrace less than 50%.
Early we post First EW rule was broke. Minutes later we call: If the downfall is hard subminute wave 2 was in place so a wave 3,down is in play. Really, we are beting because our fourth and fith rules on Elliott waves has been broken , by a little bit but broken. Always there is a chance that wave 2 could not be in place but, this only will confirm our fourth and...
We have made several mistakes today in this par and we are paying for that. Our problem has been that we where looking the charts but our sentiment was bullish. Well, this said we our sharing our 1 Hr chart with our bearish count. This will be a minute wave 5,down and this wave will be a subminute wave 3,down.
AMRN: Our plan for next week:
Next week we will start thinking that long picture is: we are,currently, on a minute wave 3 of a minor wave 3 of a intermediate wave c of a cycle wave 2, down, so we are on a bear mood on the long term.
On the middle term we are, currently, on a minute wave 3 of a minor wave 3,down, so we are on a bear market on the middle term.
In this hour chart, we can watch how prices are pushing, again, to the neckline of the HS(indicated in last post) but with an,very, overbought condition in the MACD and starting to loose momentum. Markets, as always, need to confuse the participants, before a major move and we think this is the case.
This is a possible alternative count that favors the odds to a last push up to 1,400 (+/-).
We like this alternative because, it not only respects our Elliott waves( retracement & fan lines) and fibonacci analysis, but also respect the Head and shoulder, neckline and pullback target, develop in-between February and April and, now, we are using a new(for us) tool...