Ewj: elliott wave

Spot on with the ratios Mike :)

Should also note that the 61.8% of wave 1 could also be a classic extended wave 3 target & we could get more of a move up as part of a wave 4......
 
Quote from Mup:

Spot on with the ratios Mike :)

Should also note that the 61.8% of wave 1 could also be a classic extended wave 3 target & we could get more of a move up as part of a wave 4......
More...

Yep, this move might be beginning as we speak. Obama speaks tonight too.
 
A lot will be see that option elo :)

Either start of another leg down or even a lesser (b)

Needs to bust that lesser -5.25 ALt though other wise you could count it as a lesser wave 4 of an elongated "c" wave....
 
In Robert C Beckman(s) 1976* book, he highlights a handy tip when dealing with possable elongation... :)

If a lesser wave just stops short of the Previous swing high when part of a flat pattern, watch out for elongation...

I'll scribble it on the chart... :)

* Beckman - The Elliott Wave Principle as applied to the London Stock Market.
 

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