Updated 9:30I want to thank Pedram for finding a error in my chart. He pointed out that I had made (wave A) a five count and ended (wave C) below the top of (wave A). Had to ponder this dilemma for quite a while and then saw almost the same count on Kenny's site. The difference is where (wave 1) ends.
This may turn out to be a running post today with several updates.
This morning had a small surprise but it looks like we are still on track for wave 5.
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Let me clarify my response, if your wave (a) is a five it implies a zig zag because a zig zag is the only corrective pattern that starts out with a five. (5,3,5).
ReplyDeleteYou could be right but it would have to be a truncated zig zag, where (c) does not get above (a). I have never seen this pattern but I think is possible but extremely rare.
Keep up the good work.
I agree with you.
ReplyDeleteI often get so involved with charting that I forget the basics. I saw a way to count 5-3-5 and did not consider the look.
This is an odd looking wave any way you count it, so finding the most likely is all we can do.
Right now I'm partial to the ABC flat, but Tony's failed fifth looks good too.
Either way we better turn this train around soon or we may have to take another look at the Leading Diagonal.