Fifth wave extensions are the most difficult to count – because when you are in a 5th wave extension,
you may be considering a lot of other possibilities — and when the pattern just keeps going up in a straight line for multiple days in a row – it’s difficult to count.
But then when you step back and look at it holistically, it makes much more sense.
So whenever you begin with an A-B-1-2 and then it goes straight up from there.
Also, it happens to keep in mind the time frame.
For example, a Santa Rally – just a few days before Christmas — could experience a prolonged upward movement — even beyond supposed resistance zones.
The market will just blast right through those–until the last 15 minutes of Christmas eve — when it finally finalizes the fifth wave extension and the Santa Rally is over.
*https://lifestyletrading101.com/elliott-wave-3rd-and-5th-wave-extensions/
you may be considering a lot of other possibilities — and when the pattern just keeps going up in a straight line for multiple days in a row – it’s difficult to count.
But then when you step back and look at it holistically, it makes much more sense.
So whenever you begin with an A-B-1-2 and then it goes straight up from there.
Also, it happens to keep in mind the time frame.
For example, a Santa Rally – just a few days before Christmas — could experience a prolonged upward movement — even beyond supposed resistance zones.
The market will just blast right through those–until the last 15 minutes of Christmas eve — when it finally finalizes the fifth wave extension and the Santa Rally is over.
*https://lifestyletrading101.com/elliott-wave-3rd-and-5th-wave-extensions/