Elliott wave from Cycle to intermediate on BLDP Help
Hi chartists,
I drew a full Eliott wave on the long term chart on BLDP, the big Cycle waves can be seen here:
we are in Cycle wave III now.
of this Cycle wave III, here are the 5 Primary waves:
we are in the last Primary wave 5.
On the hourly chart of Primary wave 5, are the Intermediate waves be zoomed in here:
And here on the intermediate wave level i am stuck, it does not look as I counted wrong.
But have the strongest idea this will go higher.
Solutions:
1) wave 1,2 & 3 gets merged in to wave 1, wave 4 becomes wave 2, but then the problem is that wave 3 is to short.
Solution here would mean wave 3 is an extended wave with an other 5 waves within. as here drawn:
only the 3rd wave within is very long in time compare to the other waves.
2) wave 5 is here the extended wave,
but again, wave 3 within is very long in time compare to the other waves.
What is your opinion? Any other wave count possible?
Is there a point that an extension is not possible any more due to the long time frame it continiues flat?
thanks
I drew a full Eliott wave on the long term chart on BLDP, the big Cycle waves can be seen here:
we are in Cycle wave III now.
of this Cycle wave III, here are the 5 Primary waves:
we are in the last Primary wave 5.
On the hourly chart of Primary wave 5, are the Intermediate waves be zoomed in here:
And here on the intermediate wave level i am stuck, it does not look as I counted wrong.
But have the strongest idea this will go higher.
Solutions:
1) wave 1,2 & 3 gets merged in to wave 1, wave 4 becomes wave 2, but then the problem is that wave 3 is to short.
Solution here would mean wave 3 is an extended wave with an other 5 waves within. as here drawn:
only the 3rd wave within is very long in time compare to the other waves.
2) wave 5 is here the extended wave,
What is your opinion? Any other wave count possible?
Is there a point that an extension is not possible any more due to the long time frame it continiues flat?
thanks
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.