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Here is my amateur Elliot Wave Analyst on WPL.Looks to of completed 5 waves down with waves 1,3 & 4 subdividing into a a-b-c pattern. Wave 1 and Wave 5 are almost exactly the same length which would suggest that we are now in an a-b-c correction. Wave 2 retraced ~ 61% (wave 2's tend to retrace between 50-70% of wave 1). Wave 4 retraced ~ 32% (wave 4's tend to retrace between 30-50% of wave 3). Id now be looking for a retrace to ~$30 (Is there a way to calculate the length of the corrective wave b?) before a wave c back up towards $40 as wave a & c tend to be the same length.Look forward to some input.Cheers Johnny.
Here is my amateur Elliot Wave Analyst on WPL.
Looks to of completed 5 waves down with waves 1,3 & 4 subdividing into a a-b-c pattern. Wave 1 and Wave 5 are almost exactly the same length which would suggest that we are now in an a-b-c correction. Wave 2 retraced ~ 61% (wave 2's tend to retrace between 50-70% of wave 1). Wave 4 retraced ~ 32% (wave 4's tend to retrace between 30-50% of wave 3). Id now be looking for a retrace to ~$30 (Is there a way to calculate the length of the corrective wave b?) before a wave c back up towards $40 as wave a & c tend to be the same length.
Look forward to some input.
Cheers Johnny.
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