Correct............... The “initial” rally off an important low would be considered a Wave (1), and should “ideally” sub divide into a lesser degree 5 wave pattern. As you can see, that is exactly what happened as found by the “minor” Elliott waves. So far MTPredictor has done a perfect job of nailing the low of the day, then the first high, and also the minor pattern of the rally.
So what should you anticipate next ? Exactly, a Wave (2) correction, that subdivides into an abc pattern.
And is exactly what unfolded, with the minor abc being found by the Elliott Wave module. Again, MTPredictor doing a brilliant job of nailing the Elliott Wave patterns for you...
The trade was long off the blue (buy) bar.................... But what was the target ? What should you anticipated after a Wave (2) low ?
Come on, you should all know this, as this is my “favourite trade” and the one I talk about more than any other :)
Steve
So what should you anticipate next ? Exactly, a Wave (2) correction, that subdivides into an abc pattern.
And is exactly what unfolded, with the minor abc being found by the Elliott Wave module. Again, MTPredictor doing a brilliant job of nailing the Elliott Wave patterns for you...
The trade was long off the blue (buy) bar.................... But what was the target ? What should you anticipated after a Wave (2) low ?
Come on, you should all know this, as this is my “favourite trade” and the one I talk about more than any other :)
Steve
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