Wave counting is as good of a pseudo science as any (Gulliver Wave)
“The Principles of Wave
Are difficult to understand
Do what you love and in the end you’ll find
I have got to give credit to my brother Elliott for counting to five and reciting the first three letters of the alphabet successfully – and I just ran out of credits.
Let’s examine the crazy volatility-event of Thursday, that was easy to misinterpret in the making I you were unprepared and were looking to closely.
This was a Wave 5 down that came out of a wave 5 of a Wave 4 and had a corrective ABC structure and was followed by an impulse wave 1 of Wave 1 up.
Right off the bat, there is a lot to digest here. How can a B end point take out the starting point of an A? It just can. (Think volatility talking into a megaphone).
Now, watch carefully, for as any good Kamikaze teacher, I’m only going to show this to you once.
I hope you learned something new.
Strong off the bottom -> the Shape -> fully consolidated or not, it will be keep on going until it ends in parabolic tail before the correction