"Gold, historically speaking, is one of the anchors of economic life, with a sound record of achievement. It has nothing more to offer the world than discipline." - Elliott Wave Principle by Frost and Pretcher
EWP is considered flawed, due to it's subjective nature.
I disagree. However, I am not here to sway opinions. Here is my count.
I believe that price is currently forming an extension of the 5th wave, as a Diagonal.
EWP is considered flawed, due to it's subjective nature.
I disagree. However, I am not here to sway opinions. Here is my count.
I believe that price is currently forming an extension of the 5th wave, as a Diagonal.
Not
UPDATE:I am now of the opinion that WAVE 2 (Blue), of the extended diagonal, should be marked at the AUGUST LOW of '2018 @ 1160.
This makes more sense:
- We immediately get a "motive" like response from this price.
- It gives more time for the reatracement of wave 2 (Blue) to form. (Retracments are known to take significantly more time to conclude than their preceding motive wave.)
- If we were to take a Fibonacci Retracement tool from the conclusion of Wave 4 (Black), to the conclusion of Wave 1 (Blue) high, we would see that the orthodox ending of Wave 2 (Blue), fits perfectly between the "Golden Ratio" of .50%-.61.8% retracement zone.
(Refer to EWP by Frost & Pretcher for details)
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.