Unilever (UN): News & Events Shall Arrive to Justify the Forecast
SUMMARY
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R.N. Elliott had the genious to conceptualize the fractal nature of Fibonacci ratio as reflected in price patterns. He also understood the abstract nature of sentiment reflection on price movements. This is how he arrived at the conclusion that news and events will arrive later to justify the forecast based on price patterns and EW counts.
Just as the below chart shows, a wave 4 is approaching (blue). IF blue 3 is not yet done, 4 is still approaching. From the looks of it, there could be one more incremental higher high, but not required. This forecast is the reflection of sentiment and yet there exists no news or events hinting that blue 4 correction is getting closer.
Subwaves are used to qualify the higher degree of trend labels. In this chart, blue 3 shows that all five subwaves of blue 3 are placed. The red ABC is projecting flat correction; however, if the rule of alternation between 2 and 4 waves kick in, the sequence can become more complicated. Given that MACD is a bit oversold, it should bounce to support the B wave rise and the decline further into C.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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@haejin i wish we had a technical advisor like you in the @accra community in Ghana. Well informed analyses you have portrayed. thank you very much
Well and good information BitcoinLive,
I hope 4 june will be a good day for it.
HAVE A LOOK ON MY FIRST SHOT EVER!
It's would be really legit that you emphasize that this should be considered as probability not a certainty in making financial decisions concerning cryptos, but thanks for the information it will help alot.
I like the way you are posting a meaningfull and informatic stuff about bitcoin its worth worse timing your analysis i have read everytime not bore ever full of interest the way you share and describe in blog its attractive
Many thanks. Could you do one for Royal Dutch Shell please?
I was thinking about extended flat since A and C are 1:1 ratio and B looks more like 3 wave than 5 to me.