Wave 1 & Wave 2: Retracement from 100% level to 61.8% level
Wave 3 & Wave 4: Retracement from 123.6% level to 100% level.
Will Wave 5 & Wave A retrace from 150% ($1.638) level to 123.6% ($1.433) level, before moving to 161.8% ($1.729) level? This pattern may help me to make some money.
Hi, the price for China Fishery is now at 1.34 even much lower than your retracement level. What is a good price to enter if were to contra?
ReplyDeleteCool! That's a nice wavecount.
ReplyDeleteJust to add on, Wave 5 is not always the biggest wave. Usually, for stocks, Wave 3 will be the extended wave; while for commodities, it is usually Wave 5. Since Wave 3 cannot be the shortest wave, a minimum target for Wave 5 is 100% of Wave 1.
Cheers
Spencer
www.synapsetrading.blogspot.com
Thanks for the comment, Spencer!
ReplyDeleteHi Ultra,
ReplyDeleteChina Fishery had a doji last Friday, I think this level would be a good price to enter for "long term trade". There is no guarantee can make money using contra because this Elliot Wave is a long term pattern.