I was able to find an m1 wave, label past and forward waves, and measure their retracements. I couldn't remember which rule and condition that these waves would yield, therefore, I shouldn't be drawing any logical conclusions.
Because I can't resist guessing how many beans are in a jar, I will say that the logical extension would be that another impulse wave occurs that would terminate at some percentage of m1. My next guess would be that the final wave is supposed to get to the 150% extension, or higher, putting price at roughly 14500. That's a long march for the bulls in the middle of summer, but eliiot wave is elliot wave. Again these logical extensions were not collected from any literature sitting in front of me. Just general osmosis of trading videos and occasional posts here on tradingview.
Thoughts? Is it a pretty picture?
Because I can't resist guessing how many beans are in a jar, I will say that the logical extension would be that another impulse wave occurs that would terminate at some percentage of m1. My next guess would be that the final wave is supposed to get to the 150% extension, or higher, putting price at roughly 14500. That's a long march for the bulls in the middle of summer, but eliiot wave is elliot wave. Again these logical extensions were not collected from any literature sitting in front of me. Just general osmosis of trading videos and occasional posts here on tradingview.
Thoughts? Is it a pretty picture?
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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.