Just a lil ramblings on Elliot Wave based on what i read a few years back and what i get from my interactions with other ellioticians.... Although i am not a keen follower of the waves but just an interpretation possible.the no of wave possibilities are always numerous :P and may not be effective with the whole gamut of stocks with different wave counts!
Can we say from the above that the triple A-B-C correction is over with a failure signal and faster retracement move showing bull impulse after a long time and we are in next B wave of opportunity which will see 38/50 % of 8k-21k ?? or C - 5 bottom is still away with some zig zag combos ....Aah i would stop here :P
I would still prefer my classic technical analysis and the simpler practical approach to decide for the short to medium term decisions then to swim in the waves :P .
Many of these counts/projections are based on my personal view which may be naive and short sighted but as usual some stuff to ponder on :P
Best Regards,
Nooresh
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