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Wave Pattern update


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#1 LarryT

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Posted 25 May 2018 - 08:23 AM

Odds continue to favor a wave FOUR triangle off the 1810 low completed May 03 at the 2594 low. Odds favor wave 1 completed and a shallow wave 2 is almost or even possibly completed, wave 3 toward 2946 to 3094 is about to get underway.

 

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#2 kssmibotm

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Posted 25 May 2018 - 06:10 PM

A triangle is 5 waves with each wave sub-divided into 3 waves.  I believe the wave from the mid March high to the early April low was 5 waves rather than 3.  If that is the case, the triangle formation is invalidated.  How do you count the Mar high to April low as 3 waves?



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#3 LarryT

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Posted 25 May 2018 - 08:47 PM

A triangle is 5 waves with each wave sub-divided into 3 waves.  I believe the wave from the mid March high to the early April low was 5 waves rather than 3.  If that is the case, the triangle formation is invalidated.  How do you count the Mar high to April low as 3 waves?

a of C 3-19 low 2694 b of C 3-21 at 2739, wave c of C  was a three wave drop into the low of 4-02 at 2553 for 7 waves down completing wave C of the triangle.

 

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#4 CLK

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Posted 29 May 2018 - 02:59 PM

With VIX closing over 17, I thinks odds favor new lows.

 

 



#5 CLK

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Posted 29 May 2018 - 05:48 PM

Has a Bitcoin look to it even, and Bitcoin isn't done on the downside.

 

 



#6 LarryT

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Posted 29 May 2018 - 08:04 PM

Well, I have 2660 to 2650 for a typical wave 2 so its still alive as of tonight. Still favoring the triangle pattern until it isn't.


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