raphaelhp

raphaelhp Updated 

We are still on the ascending wedge, Bear flag. After we go up until around $900 something, we have to keep the correction of wave 2 (impulse-correct-impulse) until leg 2 = A-B-C is completed. Then we skyrocket with wave 3, reaching 161.8% of wave 1, which is almost previous ATH. What do you guys think?

raphaelhp

I'm going to throw the following arguments and let me know if it makes sense. Because I'm still positive that we have to end wave 2 sometime. - The big deep was an ABC correction - Then we had wave 1 - We started wave 2 around $950 - Wave 2 (corrective) is usually flat or zigzag, triangles are not so common - Thus, wave 2 as per the image is a corrective zigzag...

raphaelhp

It is not a simple triangle correction because we already passed a last E correction, if it was the case. It seems to be a complex correction with 2 A-B-C triangle. After triangle break, we go down. Thoughts?

raphaelhp

It makes sense to me that we had an ABC correction (the big deep) and now we are on a 1-2-3-4-5 wave pattern. We finalized wave 1 and now in the middle of wave 2. As per Elliot, corrective waves could be: - Simple: Zig Zags, Triangles and Flats - Complex: small and big X This wave 2 seems to me as a zigzag (A-B-C), started with an impulsive (A) and now at the...

raphaelhp

Ladies and gentlemen, Against other thoughts, I am not considering that we had a full cycle yet with 1-2-3-4-5 Elliot Waves from $600 (Feb-06) to $980 (Feb-17). To me that was only 3 impulsive waves that make a wave 1, now we had a corrective wave 2 from $980 to $790 and we are about to start a wave 3 that goes from $790 to $1369 and reaches exactly 161.8% of...