Just posting an other example of prefect Elliot Wave movements precisely in sync wth Fibonacc extensions.
Each 12345 impulse wave adheres to the Fib increments, and is followed by a clear ABC correction.
We may have topped at the 8.618 extension, but that looks like a wave 3, with 4 and 5 yet to complete the last impulse.
Lets see if it plays out.
تعليق
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Cool, and EXACT bounce off the 7.618 now will it keep going to the 9.618 is a question as wave 5's are not very dependable, but I am rooting for that 9.618.
Here is a 9.618 in BTC that told me was going to be the peak . . and here is what BTC is riding now, and why I am thinking the bottom will be around 2800
hey, thanks for sharing. I'm trying to learn Elliot waves, they seem quite tricky. Onc thing I can never understand is why some peaks/troughs are counted and some others aren't?. Is there some rule/logic I'm missing. for example, the peak at 118.89 is skipped? Is there reason for that? Any good resources you can point to?
thanks
Mick
EuroMotif
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@no-more-9-5, Hello. Elliott waves are not easy, and are rather subjective. There are many resources on the internet including from the original source. That peak kat 118.89 you mentioned would have been counted in a smaller order than I am showing. The basic idea is just this: 5 waves in direction of trend, 3 waves to correct in opposite direction. That happens with waves nested within waves. So a wave 1 of a 12345 should have 5 sub waves, which could be labeled or just visually confirmed. And then subwaves 1 and 3 should also have 5 sub-sub waves and so on. For me I use Fib extensions to help identify important peaks troughs.
thanks
Mick