As talked about a lot, 2018 correction seems to be buildning up a more fast-pasted 2012 correction.
By looking at data of current trend and history it seems that we are heading for 4000 - and if history repeats itself we should be leaving this short-term downmarket in july-august
I've never really used , but I've been reading more and more about it - I would love to hear in the comments if you think it's used correctly in this example. As suggested we are on C heading down to 4000.
Anyways, thanks for reading and have a pleasant week:)
Also check out OfficialTjans 2014=2018 fractals, very interesting stuff
I have copied your chart and I have adjusted your count slightly to reflect the more likely completion of green wave 3 and 4. This was the only way I could get a proper 5 wave sub-division (black circles) for green wave 3. And I have added the larger wave sequence to give it more perspective and broader context. Every thing else remains basically the same including your conclusions as the most likely level for this correction is in the area of wave 4 of one lessor degree between $5000 and $3000 ( the area highlighted in yellow). Additionally, as it appears this wave (4) correction is unfolding as an ABC Zig-Zag it could easily morph into an ABC Flat or even a Triangle which are more common patterns for a wave 4 position and would be more in line with the Eillott guideline of alternation with wave (2) correction. We'll have to keep a close eye as she unfolds.
Let's talk about our wave 4 that we're in right now on our larger wave sequence:
* If it evolves into a triangle, would you say we have already hit bottom?
Anyways big props to you for beautiful charting, easy to comprehend without being too plotty. As always - time will tell, I'm watching from the sideline until things become clearer.
I hope that helps, don’t mean to be evasive, we just need price to unfold a bit more before we can lend confidence as to which count may unfold.
Nice talking with you mate, and thanks again for your chart, you called it!