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Kohs Corporation (KSS) impulsed in a classic five wave sequence to deliver 5,000% profit since 1993. Lately for past 17 years, KSS has been meandering sideways. Talk about a lengthy correction! The price is also primarily taversing within a parallel channel (white lines).
When price is moving sideways, then it's likey a combination sequence. In this case, I've labeled it as a large and wide WXY (red). The subwaves of each also divides well as abc (blue). th remaining red Y has the subwave blue b still in progress with an incremental higher high remaining. The blue c of red Y could coincide with an economic slump that might be approaching the world markets.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?