VRT to see ATH before topping?
So this seems to be going against most forecasts at the moment, but it looks too good to not consider. How I see it, we are in an impulse wave, and have started wave 5. Now full disclosure that I am not an expert (may just be a beginner) at Elliot waves. But so far as I have read, we look to be checking all the requirements of the impulse wave, which makes me believe, we are in wave 5 and headed for an ATH:
Rule 1: Wave 2 is not retracing the whole Wave 1.
Rule 2: Wave 3 is above wave 1
Rule 3: Wave 1 is the shortest wave of all the major waves
Rule 4: Wave 4 is not coming in the territory of Wave 1
Rule 5: Wave 5 is more than 38.2% retracement of Wave 3
Rule 6: Wave 5 is the extended wave of all the impulse wave
Rule 7: Wave 2 and Wave 4 are obeying the rule of alternation (price, time and pattern alternation)
I would love an Elliottician's take on this though, so do give your comments.
Rule 1: Wave 2 is not retracing the whole Wave 1.
Rule 2: Wave 3 is above wave 1
Rule 3: Wave 1 is the shortest wave of all the major waves
Rule 4: Wave 4 is not coming in the territory of Wave 1
Rule 5: Wave 5 is more than 38.2% retracement of Wave 3
Rule 6: Wave 5 is the extended wave of all the impulse wave
Rule 7: Wave 2 and Wave 4 are obeying the rule of alternation (price, time and pattern alternation)
I would love an Elliottician's take on this though, so do give your comments.
Note
Wave 1 is not accurately shown there, and should be starting from $12.49 area.
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.
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.