If you dont mind what do you focus more? The structure of the wave or fibs levels? Thanks

@coltenjosephhenrysbestyout8746

Жыл бұрын

My focus is always more on wave structure, Fibonacci is more of a supporting cast in my view. I hope that helps!

@humbertovazquez1479

Жыл бұрын

@@coltenjosephhenrysbestyout8746 thank u. Very much appreciate it👍

@coltenjosephhenrysbestyout8746

Жыл бұрын

Hi

On your analysis of JD at 16:20, you have a blue ABC with the A wave consisting of a green 3 wave ABC move. This is invalid as the only way you can have a 3 wave move in a wave A is if the larger blue ABC is a flat correction (3-3-5) but a flat would require the B wave to retrace at least 90% of wave A. In this case, you can see that the blue B wave does not retrace enough of wave A so you cannot label it is as such and your blue A wave would need to be a W wave instead (or everything would need to be relabelled)

@coltenjosephhenrysbestyout8746

Жыл бұрын

Thanks for the feedback. Wouldn’t a WXY labeling imply that Y (aka my blue C wave) would have to be a three-wave move? Also, I’m curious where your 90% retracement requirement comes from, I am not familiar with that rule, thanks!

@methodman118

Жыл бұрын

@@coltenjosephhenrysbestyout8746 Hi mate yes exactly, the Y (your C wave move) would need to be a 3 wave move which implies that either its wave A of Y or that the count is something else entirely. And in Elliott Wave Principle on page 89 under the rules under 'Flat', it says 'Wave B always retraces at least 90 percent of wave A' - it makes sense otherwise, it's not really a 'flat' correction if it doesn't retrace enough