yes proper wedge patterns have 5 waves, whether they are falling
wedges or rising wedges, abcde. Also, an important note, a
completed or near completed wedge will always have MACD divergence,
if you draw a wedge that looks okay but there is no MACD
divergence, then changes are the wedge is not complete and it's
still some sort of 3 wave
DRI, not the greatest wedge, but sort of has that look and yes
you can count 5 waves with MACD divergence at those highs, that
high would be wave e if it's a wedge
the IWM chart is simply textbook they don't often look that
picture perfect
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yes proper wedge patterns have
Hi Matt, I wanted to ask your thoughts regarding the ...
Posted by matt on 18th of Apr 2024 at 10:46 pm
yes proper wedge patterns have 5 waves, whether they are falling wedges or rising wedges, abcde. Also, an important note, a completed or near completed wedge will always have MACD divergence, if you draw a wedge that looks okay but there is no MACD divergence, then changes are the wedge is not complete and it's still some sort of 3 wave
DRI, not the greatest wedge, but sort of has that look and yes you can count 5 waves with MACD divergence at those highs, that high would be wave e if it's a wedge
the IWM chart is simply textbook they don't often look that picture perfect