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Strategies & Market Trends : Elliott Wave and Index Trends with POKERSAM
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From: POKERSAM7/28/2023 12:13:19 PM
   of 1764
 
I have dubbed wave twos as the "sigh of relief" wave. A two up causes the bullish to give a sigh of relief that the correction is over.
It could also be dubbed the "gift horse" wave. The old saying is that you should never look a gift horse in the mouth. The saying dates from the fourth century. It means that when given a horse as a gift it would be rude to check its teeth to see how old the horse was to determine its worth. Just take the horse and be grateful because it is a gift horse. In this case it is a great op to get short for 3 down,

So, a wave 2 up is the "sigh of relief" wave for a bull and a "gift horse" wave for a bear.

Of course, if this bounce is not a wave 2, none of this makes any difference. You have to decide what you think it is.

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