Unlikely Elliot Wave Count for S&P (4 Hours DOJI Month)
One of the counts that I like the most is the Triangle for this Doji Month. What deifnes better a Doji than a Classical Elliot wave Triangle?
In this case wave A fits very well with the guidelines as wave C is 0,68 the length of wave A. Wave B of the triangle is the most controversial as doesn't fit well within the guidelines at naked eye but you can force a previous Expanded flat that could do the trick in nature.
Wave C also fits well with fibonacci guidelines and looks pretty solid.
Wave D is in progress and the first move looks promising. We have to see a rejection when wave D is complete for a final wave E.
As triangles appear as single structures or in B position, I tend to think that we will see an impulse or a three waves up when finsished.
Have to say that this is pretty unlikely specially for this B wave, but I understand the nature of Elliot wave counts and patterns as a way to understand sentiment rather than a way to trade.
Hope it helps.
In this case wave A fits very well with the guidelines as wave C is 0,68 the length of wave A. Wave B of the triangle is the most controversial as doesn't fit well within the guidelines at naked eye but you can force a previous Expanded flat that could do the trick in nature.
Wave C also fits well with fibonacci guidelines and looks pretty solid.
Wave D is in progress and the first move looks promising. We have to see a rejection when wave D is complete for a final wave E.
As triangles appear as single structures or in B position, I tend to think that we will see an impulse or a three waves up when finsished.
Have to say that this is pretty unlikely specially for this B wave, but I understand the nature of Elliot wave counts and patterns as a way to understand sentiment rather than a way to trade.
Hope it helps.
Note
Oops! the 3111.69 target was hit faster than expected. Are we only missing E ? Time will validate or invalidate ;-)
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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.