CCJ - Long term Elliott Wave using Truncated 5th
If we accept that the Primary 5th wave was truncated by a black swan event, then we have a possibly correction that ended at Y. Shows potential to bottom out near $8.00.
5 to A
28.16
B to C
18.35
Nov 2016 Wave C has a length of at least 61.8% of wave A ( Oct 15.26% '11), gives 8.17 target. Actual 7.40
w1-3 = $53.96
w5 = $32.89
W5 often equals 62% of w1-3, which gives $33.45 projected move. Actual move = $33
If wave 3 indeed shows a nearly vertical rise or decline, then draw a trend line connecting wave 2 and 4 and draw a parallel line from wave 1.
This parallel line will cut through wave 3 and will target wave 5
Further supporting evidence - Truncated 5ths are usually associated with black swan events.
W to X is a bit weird?
5 to A
28.16
B to C
18.35
Nov 2016 Wave C has a length of at least 61.8% of wave A ( Oct 15.26% '11), gives 8.17 target. Actual 7.40
w1-3 = $53.96
w5 = $32.89
W5 often equals 62% of w1-3, which gives $33.45 projected move. Actual move = $33
If wave 3 indeed shows a nearly vertical rise or decline, then draw a trend line connecting wave 2 and 4 and draw a parallel line from wave 1.
This parallel line will cut through wave 3 and will target wave 5
Further supporting evidence - Truncated 5ths are usually associated with black swan events.
W to X is a bit weird?
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