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Good Point Walter,
Your Vision Made To Repass The Elliott Rule. I Thought Wave 3 Had To Be At Least As The Top Of Wave 2. But, I Was Wrong. Elliott Rule Says That Wave 3 Must Always Overpass Top Of Wave 2 And With An Usual Length 161.8% Minimum Of Length Wave 1. So My First Vision Of The Chart Was Incorrect.
Only, Your Chart Or My Second Chart Can Be Correct. Noutouch And Brownsfan Were Right Thinking About The Continuation Of The Present Short Term Trend. Anyway, It Doesnt Matter Which Chart We Choose Betwen Yours Or My Second Because The Conclusion Of Both Are The Same: We Are In Wave 3. So, There Are A Lot Of Possibilities Of Keeping Growing. Considering Both Charts, Both Have Complex Corrections. This Means That The Next Retracement To Correct Wave 3 Will Be Simple To Keep Alternation But A Large Retracement To Keep Same Proportion Of The First Retracement.
Basing A Study On Your Chart, I Have Enhanced A Projection Of A Possible Next Future For The Following Days. Market Is Still Bullish But We Have To Be Aware Of Next Abc Keeping An Eye To Make Sure Is An Abc And Wait The End Of This Abc Looking For A Support Line, Bullish Candle, Big Volume Bar, Etc.
This Last Coment Would Be My Long Enter Criteria Once The Next Abc Finishes.
It Is A Pleassure For Me To Keep In Touch With You. You Are Quite Open Minded And Observant And This Is Very Constructive Because Make Us Consider A Wider Range Of Scenarios.
Thanks Walter
Hope You Enjoy The Chart I Think Is Quite Detailed And Helpful. To Have In Mind Where We Are And What Can Come First (the Big Picture) Is Very Important To Develop A Strategy And Be Aware And Sure For The Next Entries |
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Great MX ¡¡ let me tell you that YOU are the open minded here and I have great respect for your great actitude..
I think there is a great improvement here and I like to refresh Elliot... Its the core morfology for any serious fibonacci analist... Did you calculate what price level should hit the 161.8% proyeccion ? would be nice to have it... cheers Walter.