Nifty 5th Wave, The End of Madness
Fifth wave extensions are the most difficult to count – because when you are in a 5th wave extension,
you may be considering a lot of other possibilities — and when the pattern just keeps going up in a straight line for multiple days in a row – it’s difficult to count.
But then when you step back and look at it holistically, it makes much more sense.
So whenever you begin with an A-B-1-2 and then it goes straight up from there.
Also, it happens to keep in mind the time frame.
For example, a Santa Rally – just a few days before Christmas — could experience a prolonged upward movement — even beyond supposed resistance zones.
The market will just blast right through those–until the last 15 minutes of Christmas eve — when it finally finalizes the fifth wave extension and the Santa Rally is over.
*lifestyletrading101.com/elliott-wave-3rd-and-5th-wave-extensions/
you may be considering a lot of other possibilities — and when the pattern just keeps going up in a straight line for multiple days in a row – it’s difficult to count.
But then when you step back and look at it holistically, it makes much more sense.
So whenever you begin with an A-B-1-2 and then it goes straight up from there.
Also, it happens to keep in mind the time frame.
For example, a Santa Rally – just a few days before Christmas — could experience a prolonged upward movement — even beyond supposed resistance zones.
The market will just blast right through those–until the last 15 minutes of Christmas eve — when it finally finalizes the fifth wave extension and the Santa Rally is over.
*lifestyletrading101.com/elliott-wave-3rd-and-5th-wave-extensions/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.