I recently gave an explanation for b-waves that stated:
Sometimes B-waves can be difficult to track as an Elliottition. B-waves, and wave 4's serve a very healthy, potentially complex, but totally rational role, in the advance or decline of price within a market place/security. They represent the competing viewpoints about the direction of a security and it is within these areas, market participants are willing to dedicate capital to see their perspectives come to fruition. Ultimately, we know they're wrong, because these pattern attributes are counter trend areas of consolidation, technical reset, etc.
With our (b) wave completed, we can now turn our attention to the target box where the $834 should be visited on a minimal basis, with the outsized chance of $753 to get even deeper in the target box.
From there, we'll make an assessment as to potential future price forecasts.
Best to all,
Chris
Sometimes B-waves can be difficult to track as an Elliottition. B-waves, and wave 4's serve a very healthy, potentially complex, but totally rational role, in the advance or decline of price within a market place/security. They represent the competing viewpoints about the direction of a security and it is within these areas, market participants are willing to dedicate capital to see their perspectives come to fruition. Ultimately, we know they're wrong, because these pattern attributes are counter trend areas of consolidation, technical reset, etc.
With our (b) wave completed, we can now turn our attention to the target box where the $834 should be visited on a minimal basis, with the outsized chance of $753 to get even deeper in the target box.
From there, we'll make an assessment as to potential future price forecasts.
Best to all,
Chris
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