SPX Elliott wave count daily. 101 probable count
Updated
1/ This new idea is based on the previous idea below, rsi possible extended 1st wave like our spx. Nothing guaranteed
here just an amazing similarities (chart # 1).
2/ The previous idea is coming handy for "Gaps behavior " and how they usually appear in waves 3 & C. Well it kind
of supporting this idea of an extended 1st wave. Here it is below (chart # 2).
3/ Combining these together kind of make the argument for and extended 1st wave is more probable, or not.
4/ So what's next, well Elliott Fibonacci Retracement and Extension Guidelines for an extended wave 1 as follow:
If wave 1 is extended, then the size of wave 3 through to the end of wave 5 is often 61.8% – 78.6% relative to the size of wave 1
If wave 1 is extended, then wave 2 and 4 are very likely to be shallow (i.e. 23.6% – 38.2%)
If wave 1 is extended, then wave 2 will often end at the level of sub-wave 4 of 1 (i.e. the internal wave 4 of wave 1)
4/ That's would put the probable target for this bull's move since March's low between .61-79 fibs with
minimum requirement @ 4122:
here just an amazing similarities (chart # 1).
2/ The previous idea is coming handy for "Gaps behavior " and how they usually appear in waves 3 & C. Well it kind
of supporting this idea of an extended 1st wave. Here it is below (chart # 2).
3/ Combining these together kind of make the argument for and extended 1st wave is more probable, or not.
4/ So what's next, well Elliott Fibonacci Retracement and Extension Guidelines for an extended wave 1 as follow:
If wave 1 is extended, then the size of wave 3 through to the end of wave 5 is often 61.8% – 78.6% relative to the size of wave 1
If wave 1 is extended, then wave 2 and 4 are very likely to be shallow (i.e. 23.6% – 38.2%)
If wave 1 is extended, then wave 2 will often end at the level of sub-wave 4 of 1 (i.e. the internal wave 4 of wave 1)
4/ That's would put the probable target for this bull's move since March's low between .61-79 fibs with
minimum requirement @ 4122:
Comment
If you are Bullish, then "Touch Down" for wave 2 @ .38 retracement of wave one.wish you all the best.
Comment
Getting Invalidation on the 1 Hour chart, not good for our count. Unless this is a flatof some sort we need it to finish to recount.
Comment
This count is still my favorite count. Playing a text book Elliott wave count herelets follow through this and see how far can we go up & whether it plays out as
numbered or no. Only time will till.
Comment
Text book bounce of wave 2 from the shaded area. Beautiful ATH @ wave 3, this count getting stronger with time. we shall see whether it fully plays out or no. 3ed wave should ends at 4269 if no extensions involved.Comment
This is still our favorite count. Holding strongly.Comment
Moment of truth !!! coming soooooon !!! stay nimble , stay wise & stay cautious .Wave 5 of 5 o f 5 o f5 of March's low is starting or about to start + we could get truncated.
Comment
Still text book Elliott wave count holding.Comment
All in one place, our favored count is still standing enjoy.
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****** Past performance is no guarantee of future results***
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****** Past performance is no guarantee of future results***
twitter.com/samitrading1
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