Even chickuns need a nest
"Nesting occurs when a market produces a series of five wave impulse moves in the direction of the trend, but the waves clearly overlap.This certainly fails to comply with normal Elliott Wave requirements. However, instead of considering the action a failure or part of another correction, the proper count would be a series of 1-2-1-2's. Eventually, a powerful third wave develops, and then a group of finishing 4-5's are traced out to match the 1-2's and thus complete the five wave string."
-Steven W. Poser, Applying Elliott Wave Theory Profitably
-Steven W. Poser, Applying Elliott Wave Theory Profitably
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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.