Re: XAO Analysis
Call it Elliott Wave Theory counting beginners luck,
but DJIA looks to be holding the 10th October lows. Perhaps we may not get that fifth wave follow through after the 4th wave triangle pattern OZG?
It's my understanding, that if a 3rd wave has traversed "too far and too fast" as possibly in this case, a fifth wave failure is a high probability. Either that or perhaps it could be we are dealing with a completely different type of wave count (other than an impulse_ and pattern as mentioned in my last post.
I can't for the life of me see an impulse down from the high of last year, it still looks very corrective. I will stick with that wave count in that post for now, and that one says bullish for the next few days and POSSIBLY weeks.
All the best
STONER
Call it Elliott Wave Theory counting beginners luck,
but DJIA looks to be holding the 10th October lows. Perhaps we may not get that fifth wave follow through after the 4th wave triangle pattern OZG?
It's my understanding, that if a 3rd wave has traversed "too far and too fast" as possibly in this case, a fifth wave failure is a high probability. Either that or perhaps it could be we are dealing with a completely different type of wave count (other than an impulse_ and pattern as mentioned in my last post.
I can't for the life of me see an impulse down from the high of last year, it still looks very corrective. I will stick with that wave count in that post for now, and that one says bullish for the next few days and POSSIBLY weeks.
All the best
STONER