Alrighty. I had a chance to look at the charts again tonight.
First off, I have to thank Geno0010 from the Circle Community Lounge. He pointed out the truncated (5) wave in red on my first line chart I posted this morning. I didn't get a chance to follow up on it until tonight and realize that this current count works very well.
See my post from earlier this morning.
The line chart provides a little clarity and presents a good looking wave structure. The labels on the line chart work well with the bar chart as well.
Based on this count, there was a third wave of a third wave extension. I have posted a chart from Elliott Wave International as an example. Compare the two and it looks pretty good to me.
So if this is correct, there may/should not be any other extended wave in this structure. Wave (v) should just equal (i). On the chart, I projected the distance of wave (v) using the length of wave (i) and came up with 1070.
I think this is a very likely level since I have been commenting all along that price will try to fill the 1072 gap below. 1070 would be a perfect level to test the gap and most likely end minute [i].
My alternate count remains the same and the expected level is approximately the same.
Tomorrow will be an exciting day. As I complete this post now, E-minis have given up another 6-7 points so far. We'll see how she fares in the AM.
Good night!
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