Hello Please take time and read it. The notice I want to explain is crystal clear for most Elliott and technical chartists but it is so important that needs to be mentioned again. Most of you know that a hard time in trading is when you do not know this trend that has started to move wants to stop here or there (or where). VERY VERY IMPORTANT: when a wave 3 wants to correct with an ABC its target is wave 4 in lower degree. It means when traders want to cash their shares and get their profits make a correction (wave 4) that usually has the power to correct just last powerful stops in the wave 4 of lower degree. It is easier to clarify it in this DIS chart. As you can see our bullish trend in Millennium counting ended as wave (3) in 203.02 price and then we went to a correction. The question is that "How far will we go down in this declined correction?" The answer is very easy: There 2 scenarios : 1- If sell power is not to much so correction wave will go just to the level of last wave 4 in lower degree. 2- If sellers (Buyers for bearish trend) tend and have enough power to break the powerful support zone (Last wave 4 in lower degree) so just wave A of this correction stops in the area of wave 4 (of lower degree) and after wave B this correction will continue its direction more down (commonly to the last wave 4). In our trend now, it seems that sellers are powerful enough and only wave A of ABC of wave 4 stoped in the area of last wave 4 and wave C (for now we are in wave B of ABC of wave 4) will break down the support level and go more down (potentially to the level of wave 4 Sub-millennium. I promise you if you consider what I explained you will be more confident in the control of your chart. Thanks
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