Re-posting for anyone who missed it earlier in the chat room...
Here is a Logarithmic Fibonacci analysis assuming PRIMARY WAVE 1 was from March 2009 lows to April 2010 highs. (Alternate count is that P.1 extended to 2011 highs, but long-term fibs don't really match the structure since then.)
First please review the "Fib Pinball" structure as outlined here: www.elliottwavetrade...s/FibPinball1.00.png
With Primary 3 ending at the 1.764 extension, as of this writing we have dropped only two fib levels in P.4, which is the ideal target for Wave (A) -- but not all of P.4. The subsequent bounce has now retraced back one fib level as expected for Wave (B), and is also running into the long-term channel mid-line. Great spot for a top and reversal.
Expecting a drop in Wave (C) to begin soon, extending down two fib levels to reach 1.236 around 2130. This would give us an ideal Fib Pinball structure, and also aligns with my "BLUE COUNT" linked below. If it follows this path and turns up in the low to mid-2100's, we can then expect a multi-year rally in Primary Wave 5 potentially taking us up to around 3900.
Happy Trading! $$$
Here is a Logarithmic Fibonacci analysis assuming PRIMARY WAVE 1 was from March 2009 lows to April 2010 highs. (Alternate count is that P.1 extended to 2011 highs, but long-term fibs don't really match the structure since then.)
First please review the "Fib Pinball" structure as outlined here: www.elliottwavetrade...s/FibPinball1.00.png
With Primary 3 ending at the 1.764 extension, as of this writing we have dropped only two fib levels in P.4, which is the ideal target for Wave (A) -- but not all of P.4. The subsequent bounce has now retraced back one fib level as expected for Wave (B), and is also running into the long-term channel mid-line. Great spot for a top and reversal.
Expecting a drop in Wave (C) to begin soon, extending down two fib levels to reach 1.236 around 2130. This would give us an ideal Fib Pinball structure, and also aligns with my "BLUE COUNT" linked below. If it follows this path and turns up in the low to mid-2100's, we can then expect a multi-year rally in Primary Wave 5 potentially taking us up to around 3900.
Happy Trading! $$$
