Within the form of analysis I use, Elliott Wave Theory, the third part of a wave 3 (iii of 3) is typically the most powerful portion of any impulsive 5 wave pattern. This is most evident in the MACD indicator because it will register it’s Highest or lowest reading (Depending on the trend) of the entire 5 wave move.
If my analysis is correct, then we’re soon about to make that journey.
The chart above shows we have completed our primary waves 1-2, and should complete our sub wave i of primary 3 in the area of 3835-3748. After which we should get a shallow retrace to wave ii area of 3905. This should provide us a 1-2, I-ii set up down. “The Trend Traders Utopia”. If triggered, a 1-2, I-ii set up produces a relentless move in the direction of the set-up with no room for entry or exit.
That is pattern we have in front of us and now we can all follow along to see if the above takes shape.
Best to all,
Chris
If my analysis is correct, then we’re soon about to make that journey.
The chart above shows we have completed our primary waves 1-2, and should complete our sub wave i of primary 3 in the area of 3835-3748. After which we should get a shallow retrace to wave ii area of 3905. This should provide us a 1-2, I-ii set up down. “The Trend Traders Utopia”. If triggered, a 1-2, I-ii set up produces a relentless move in the direction of the set-up with no room for entry or exit.
That is pattern we have in front of us and now we can all follow along to see if the above takes shape.
Best to all,
Chris
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