VRT to see ATH before topping?
Updated
So this seems to be going against most forecasts at the moment, but it looks too good to not consider. How I see it, we are in an impulse wave, and have started wave 5. Now full disclosure that I am not an expert (may just be a beginner) at Elliot waves. But so far as I have read, we look to be checking all the requirements of the impulse wave, which makes me believe, we are in wave 5 and headed for an ATH:
Rule 1: Wave 2 is not retracing the whole Wave 1.
Rule 2: Wave 3 is above wave 1
Rule 3: Wave 1 is the shortest wave of all the major waves
Rule 4: Wave 4 is not coming in the territory of Wave 1
Rule 5: Wave 5 is more than 38.2% retracement of Wave 3
Rule 6: Wave 5 is the extended wave of all the impulse wave
Rule 7: Wave 2 and Wave 4 are obeying the rule of alternation (price, time and pattern alternation)
I would love an Elliottician's take on this though, so do give your comments.
Rule 1: Wave 2 is not retracing the whole Wave 1.
Rule 2: Wave 3 is above wave 1
Rule 3: Wave 1 is the shortest wave of all the major waves
Rule 4: Wave 4 is not coming in the territory of Wave 1
Rule 5: Wave 5 is more than 38.2% retracement of Wave 3
Rule 6: Wave 5 is the extended wave of all the impulse wave
Rule 7: Wave 2 and Wave 4 are obeying the rule of alternation (price, time and pattern alternation)
I would love an Elliottician's take on this though, so do give your comments.
Note
Wave 1 is not accurately shown there, and should be starting from $12.49 area.
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