Converging trend lines hint at an ending diagonal forming.
it is often the case where wave 5 equals wave 1. i show the target at 309. in that case wave 5 is considered truncated
the best time frame is 4H. everything is so clear. keeping it simple! im not day trading so i shall focus on this time frame. it makes more sense and is less confusing! it's to early to calculate targets. i need wave 3 and 4 to end to calculate a target for the bottom.
Wave 1 took about 12 days in duration. so wave 5 should take similar time... bottom around Nov 25ish?
I believe wave C isn't complete. We had 3 wave up corrective move which was wave 4 of C. It retraced almost 50% of wave 3. Very standard behavior for 4. One more impulse wave down to complete the wave C pattern and end the larger wave 4 almost 1 year correction.
it doesn't make sense. market already dropped below wave 1 at 418. that shouldn't happen according to ewp. this count is probably wrong unless this whole move from 275 was just a 3 wave up corrective move then it would make sense. if it is a corrective wave then it's done. we go down one more time! hahaahahahaha i hope this is wrong
why not watch wave iii of 3 once it starts... it will impress! it is a sight to behold! i've always enjoyed watching wave 3of3 ...market almost goes "vertical" and there is no doubt you are in a bull market... it is very dangerous to be a bear when wave 3of3 starts...