I AM NOT GOOD AT ELLIOTT WAVE, BUT THIS CHART IS SIMPLE TO UNDERSTAND.
5 DOWN FOR C OF ABC CORRECTION OR DOWN FOR FIVE WAVE OF 3 OF FIVE OF A LARGER DEGREE ABC MULTY MONTH CRASH ?
Kommentera
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if this is actually a wave 4 of 5 up. And, we are in wave C of ACB. Then on a 15 minute chart we have satisfied the minimum of an ACB. with B @ .76 fib of A. Meaning that C not equal to A . Not in price NOT in Time.
My count is still holding, as long 3425 is standing. (even if the structure has changed ) down in C is still valid.
samitrading
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So far strangely enough, MY count still stand :-) I am Amazed LOL. As long as 3425 is holding, then we should see wave C unfolding hard and strong down side.
wish all the best.
samitrading
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if this reading is correct i see 5 wave down of c, and it could be : Wave C can in principle be truncated (i.e. not go beyond wave A) but it is extremely rare.
WARNING THIS COUNT IS POSSIBLY WRONG.
samitrading
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if we break 8.8.2020's low 3329 this count is most likely very valid. C wave should come VERY FAST and HARD with gabs as well.
wish you the best.
Dr_Roboto
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One mistake that I make a lot is looking at too short of a time interval. There is a lot of noise in the 15min interval and it is easy to loose the bigger picture. For good tracking of the market you need to be looking at the 1H and 2H. Normally days are good but this market moves too fast and I have better luck at 2H. When I am looking at the large scale (last few years or decade) I like to use the 1D time frame.
Waves are fractal in nature. The patterns are in all time frames. You should start at a higher time frame and layout your waves, then move to the short time frames for more detail. Don't fall victim to the old saying: "Can't see the forest through the trees." Been there, done that. It is import to look at the big picture from time to time (months and years).
yep i totally agree with you. But, what else can i do. Everyone is giving his speculation, it is like gambling right now you win or lose (house always wins) market movers that is.
if you do the daily, their is so much fun and H.V going on that i can not help but draw something :-)
I just read an idea today a guy talking about cylinder ?! with targets spx 11000 ? what's up with that ?? check it out.
samitrading
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@Dr_Roboto, look at my chart, and see for your self how these big player are playing with us. They touched 3329.3 last Friday's low ? . i just have to see small
charts to figure out their game.
Nice talking to you man. wish you all the best.
samitrading
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if my reading is correct ? If a Flat is happening, it is still holding