Option 2: ABCDE wave 4
This is follow up to my option 1 that I posted.
In this second option elliot wave count, we are only in the corrective wave 4 of the larger 12345 impulse wave cycle. To me this means this may be a less deep correction and that the correction may follow a simple descending wedge triangle ABCDE pattern. Afterwhich, it will put in 5 impulse waves to reach what is ultimately wave 5 of the larger cycle before the ABC correction begins.
I'd like to hear other's thoughts.
DISCLAIMER:
This is not investment advice. Trade at your own risk.
But seriously, I'm not qualified to even give myself advice at this point...
Take this as education and entertainment only.
In this second option elliot wave count, we are only in the corrective wave 4 of the larger 12345 impulse wave cycle. To me this means this may be a less deep correction and that the correction may follow a simple descending wedge triangle ABCDE pattern. Afterwhich, it will put in 5 impulse waves to reach what is ultimately wave 5 of the larger cycle before the ABC correction begins.
I'd like to hear other's thoughts.
DISCLAIMER:
This is not investment advice. Trade at your own risk.
But seriously, I'm not qualified to even give myself advice at this point...
Take this as education and entertainment only.
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