Thursday, August 13, 2009

Wave B Triangle for Minor B? Continued...

Update: Keep in mind, it is reasonable to say that Wave D may not be complete yet either. The best thing to do is watch the price as it approaches the apex of the triangle. And I will add, Wave E could very well end tomorrow at the open.

Dan has a count, which I had considered as well but did not chart. I would almost feel more compelled to go with his count because it does count better.

It appears Wave E of this triangle may need a little more time to develop. I believe the 'a' leg of Wave E just completed.

EW aside, just looking at the pattern starting from the 1018 high on 8/7, the structure is starting to look like a bear flag with a downside bias on tap.

We will see what happens tomorrow.


  1. Thanks Shonek. We will see if this call is truly correct next week if we head lower. Or it would have just been a coincidence that my call worked out. Good luck!