After reading Robert Prechter's lessons on Elliott Wave Principle, I realized that many of the charts I made are wrong.
Counting waves is not easy. There are rules and guidelines to follow. You cannot easily dismiss them without putting your capital at risk.
Studying EWP is very challenging...also confusing...
Just an example of such confusion is this forecast...
$PSEi is now heading to minuette wave (i) "of minute wave [i] or minute wave [a]" - unsure - "of minor wave 1 or minor wave A" - also not sure - of intermediate wave (1) of primary wave [1] of cycle wave V of supercycle wave (I) of current grand supercycle.
That's a total of 8 degrees of waves...
I didn't include the subminuette, which refers to price movement every minute...
The 8 degrees are enough to confuse me...
The above forecast is a bullish one...
How about a bearish scenario?
Instead of heading to primary wave [1], it's possible that the December 23 low is an intermediate wave (3) and $PSEi is now heading to intermediate wave (4), which is a part of primary wave [A].
Is this analysis making sense to you?
If it does not, don't bother...
The only thing you need to know is either its time for you to buy or sell...
Counting waves is not easy. There are rules and guidelines to follow. You cannot easily dismiss them without putting your capital at risk.
Studying EWP is very challenging...also confusing...
Just an example of such confusion is this forecast...
$PSEi is now heading to minuette wave (i) "of minute wave [i] or minute wave [a]" - unsure - "of minor wave 1 or minor wave A" - also not sure - of intermediate wave (1) of primary wave [1] of cycle wave V of supercycle wave (I) of current grand supercycle.
That's a total of 8 degrees of waves...
I didn't include the subminuette, which refers to price movement every minute...
The 8 degrees are enough to confuse me...
The above forecast is a bullish one...
How about a bearish scenario?
Instead of heading to primary wave [1], it's possible that the December 23 low is an intermediate wave (3) and $PSEi is now heading to intermediate wave (4), which is a part of primary wave [A].
Is this analysis making sense to you?
If it does not, don't bother...
The only thing you need to know is either its time for you to buy or sell...
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