3309 Drysdale Ct
Edwardsville, IL 62025
-might be in a horizontal channel - 4 and down would be a continuation patternsince it's an even number
-5 and up would be a reversal pattern since an odd number
due to the strong downtrend I would favor 4 and down
Hi roger! The price might develop as you suggest. But your EW count is definitely wrong. It's important to study the EW rules again and again and practice. Wave 3 can never be the shortest of the three impulse waves. Link
without posting an actual chart of your own, your opinion holds no weight
- another way you could look at it is a double bottom
- b\c its a monthly chart it could have some legs
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OIL
Posted by roger on 25th of Jul 2017 at 03:55 pm
-might be in a horizontal channel - 4 and down would be a continuation patternsince it's an even number
-5 and up would be a reversal pattern since an odd number
due to the strong downtrend I would favor 4 and down
EW rules
Posted by varmercur on 26th of Jul 2017 at 04:49 am
Hi roger!
The price might develop as you suggest. But your EW count is definitely wrong. It's important to study the EW rules again and again and practice.
Wave 3 can never be the shortest of the three impulse waves.
Link
without posting an actual chart
Posted by roger on 26th of Jul 2017 at 08:57 am
without posting an actual chart of your own, your opinion holds no weight
- another way you could
Posted by roger on 25th of Jul 2017 at 06:53 pm
- another way you could look at it is a double bottom
- b\c its a monthly chart it could have some legs