WXYXZ. Z = Y @ log .618 they wanted a longer description so.. long pivot on deck, bullish divergences multiple timeframes. I like to have fibs AND geometry supporting the count as shown on the chart but it lacks geometry. the 5-3-5 zz we want to see in wave Z is a harder sell but im running with this anyway. Weekly timeframe looks obvious but we can nit pick...
November 10 to Dec 3 2021 Drop Elliot Wave WXYXZ tell me i'm wrong :-)
showing the proposed contracting ending diagonal wave 5 within wave 5 of macro wave 5. Wave 5 within macro wave 5 began at $14.30. We finished a triangle b Friday and will get the final impulse next week. Get ready.
elliot wave theory = game genie i almost always need both geometry and fibs to support a proposed count along with divergence confirmation but this time no obvious support from various fib pulls. however even if the count is wrong, very likely to bounce its just a question of how much. 3-4-5 to 1 or 30-40-50 to 1.
see chart
the structure looks obvious 3-3-3 within a larger 3 wave corrective structure from Merck's ATH
top of channel / ABC or WXY complete from march lows after triangle breakout in late oct/early november. shooting star weekly. please post and correct me but zooming out i think its 5-3-5 ABC for W (2009 low to jan 2018) into an X wave and now completed X within WXY of the X macro..startin Y down to finish macro X. August 20 $23P on $BAC for me but this thing...
not sure where X completes within X^2.. the Y wave is too complex for me.. i dont think its completing 5-5-3 from the march 2020 lows. would like to see others counts from march lows. we approaching a top but where is it likely to occur..? i don't see much in terms of fibonacci confluence.
please share thoughts particularly if you use elliot wave and can give feedback. room to run within macro channel but other factors considered i think it completes wxyxz and macro X within 10 days. thank you.
~45.20 to complete X before down to $26 on $CSCO Cisco posting this mostly bc i still don't knowhow to save properly and so i dont have to keep charting from scratch
i left the fork on there because of the reactions it had, i dono :-) usually use the low + swinghigh + 2nd lowest low. can you do it like this? i usually try to observe the reactions it has to determine if i throw it on there or not.
$PFE sideways combo almost done. 5/15m tf swing long
how often do you see hidden bearish divergence (weekly) after wave D of a wave 4 triangle? looks like a 5 wave structure to finish a flat.
post triangle thrust and 0.618 extension of Y to complete Z at $0.22 (confluence) primary target watching the low at $0.0865.. long yesterday from $0.1065
considering how long the initial move down took, i'd think the last wave down before we complete the correction that began in 2011 may take just as long or longer? still think pivot at median line of channel and those fibs though.
Y wave went 0.618 to the tick.. w/ the hidden bullish divergence im leaning more bullish combined with the fact we didn't go 90%+ to meet the strong guideline for an X wave which would likely make this an expanded flat to complete 4 of the impulse that began in 2009. still holding my $SNAP puts waiting to see how Monday plays out.