You are viewing a single comment's thread from:
RE: STEEM Analysis: Primary & Alternate
Every 5 wave starts off as a wave I, II, and partial III - that's why Elliot wave is so funny to plot - currently yes the subwave structure of STEEM/USD is looking ABC-ish, however all it takes it one extended rally to turn it into a Wave III of an impulsive wave.
Essentially Elliot waves can turn into other Elliot waves, which turn into patterns, which morph into even more complex patterns - there's really no way to know
It's fun to plot the intermediate movements however, it's not much more than that - 'for fun'.
Good point, we can still be on the middle of a wave 3 up. Absolutely! That would be an alternate scenario. So, let's say that happens and I already took my profits. IF so, then during the next minor correction, I buy back.