that was much better than a simple "incorrect count" statement.
e-wave is very hard to discern. My count may or may not follow a profetional providers count. I use just the basics.
5/3/5 or 3/5/3. Simply put...3 waves in one direction immediatly followed by 5 in the other is the signal. In the direction of the 5.
On the above posted chart the lines I drew starts with a RED 3 down followed by a BLUE 5 up. That is where it was last sunday I belive. I gave that as a bull signal for the weekly forcast I do. after you see the 3/5 then wach for another 3 once the 3/5/3 was complete and the last 3 doesn't extend past the start of the first 3 then another 5 is sure to follow. Wich will be a wave 3 as we saw here. Or a wave C as the greater trend here could be a wave of the next higher degree. But its too early for all that now.
the market will through x,y,z....d,e,f...and all kinds of confusing waves at you so I don't even try to get all that.
Just identify impulse waves and the wave of the next lower degree for entry.
If the wave 4 decline unfolds in 5 waves it blows holes in my analisys.
Dave
here is last weeks chart. wave c extended little deeper than my line but the lines are a rough estamate.
