When price moves sides, it invariably becomes a combination. The below chart of Korea Electric Power Corp. (KEP) shows that price has been moving in a sideways action for over 23 years! That is a major time frame of patterning out the WXYXZ sequence. This is why I often use the weekly charts because it provides a wide scoped big picture perspective. In fact, anyone who bought at the IPO would be at a loss right now. What price direction might be next?
The subwaves of each WXYXZ wave have been included in color blue. WXYX have been completed and the Z wave is about 1/3 complete. The blue A wave of the red Z has placed five subwaves down and blue B should give a multi year sizable bounce. So, is not a good time to be buying or selling? The final blue c wave should complete the red Z.
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