Loading ...Have you met Huey Elliot ?
At the risk of ridicule from our EW friends , I would like to ask if this chart is valid at all ?
I know just enough EW to be dangerous. I don’t know all the rules, and admit the one time I tried to learn my head exploded.
I do know the basic tenant is markets move 5 waves up then 3 waves consolidation
I have also seen the term Expanding Flat to describe a common 3 wave correction.
So here goes. Meet Huey Elliot
Flames and Arrows ?
FGC,
Looks like the count is valid… JMO.
From 2001-2008:
– We have clear 5 waves respecting the basic rules of EW.
– Wave 2 is a Regular Flat correction.
– Wave 3 is not the shortest wave
– Wave 4 looks like a triangle so we have alternance of correction waves
From 2008-2016:
– We habe a 3-3-5 structure that fits a Flat correction. Wave A and B are three waves and Wave C is a clear 5 waves structure.
– Can be an Expanded Flats
– Wave B terminates beyond the start of wave A around 127.2%. Actually we have 132.2% (488.3/369.4)
– Wave C ends substantially beyond the end of wave A around 127% to 161.8%. Actually we have 146% (539.4/369.4)
From 2016- …:
– We have 5 waves (impulsing wave)
– We can have a Regular Flat corretion (as shown on the chart) or else coming …
Thanks Gabe…Appreciate having a pro like you proof this.
Now I remember why my head exploded
🙂
That’s pretty awesome Gabe. Great EW analysis.
When I was trading actively there was time to run all the fibo math to confirm probability of the count…and project all the fib extension targets.
Nowadays…not so much….too many commitments.
Do you post/share any regular shorter term counts on gold or the PM’S anywhere?