Sunday, July 17, 2011

ELLIOTT WAVE OSCILLATOR

Taking a look at this count again and applying the Elliott Wave Oscillator (5,35), it is possible that the oscillator is confirming the correct position for wave 3.

So far, MACD has peaked at what appears to be wave 3 and has since diverged (made lower highs), which is to be expected once the fifth wave completes. Just something else to think about.
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