Hello Traders , this pattern could be either so make your call which ? I have my view but i will post it later. Regardless of which it is , we have some nice trades coming !!!!
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may somebody help me understand why it would be abcde? like what are the factors that would determine this pattern? because in my head it makes logical sense to be ABC... but i don't know
please help guys :)) rally appreciate it.
sketchmaster
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Ok, here are my humble opinion:
It is going along with the general trend, so no corrective structure as ABC is...
It still might be an ABC, as it is in the text on a chart.
Only time will tell...
markbinstadt
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jh
igor.grunskiy
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Shouldn't flat be 3-3-5? Right now it looks more like 3-3-3-(3-3?) which is a triangle in my perspective.
anilmangal
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This has already create an uproar in community when I said the C waves don't always have 5 waves in them. I don't take the findings of Elliot as the gospel, I use it as knowledge which means it can be developed. I have found a way of identifying "what is a wave" and that make a huge difference in how I use the "wave theory" not just Elliot wave theory.
igor.grunskiy
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Sounds fare, but for those who's not yet familiar with your findings and so practice classic EW theory wave C should always have 5 subwaves :P
P.S. In fact I'm looking forward to take your course some day later - when I have bigger account and more experience :)
JoeZero
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I don't see how this would create an uproar, you are right, not all C waves are 5s. C waves of triangles are 3s or variations thereof (7 waves it is becomes a double zigzag). Am I missing something?
anatoli.russu
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Great chart as always !
Cazzie
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If It's not a plane - then it's a Triangle abcde,.Anil.
Troy7s
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Another clear looking setup that becomes clear only when Anil "reads" it ))) thanks!!!
please help guys :)) rally appreciate it.