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Strategies & Market Trends : Humble1 and Swing Trading Friends
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To: scoot1212 who wrote (29013)7/1/2018 3:07:13 PM
From: POKERSAM  Read Replies (2) of 41206
 
The end of [1] clear back at the beginning of the correction is where everybody lost it. The notion of the triangle and all the other errors can be traced back to missing this one little thing.
Wave one down did not end at 2532.69. [1] ended at 2593.07. See first chart close up of wave [1].
The first chart is a close up of that first decline and what followed immediately after.
Getting that first decline right was important to counting the rest of wave [1] and [2] correctly.
How did I know? I have found it to be a rule that a wave four cannot be more than three times the length of two. Wave two cannot be more than three times the length of four. That is the rule governing length of those two waves.
Everyone counted wave (4) of wave [1] being 2593.07 to 2727.67. That is impossible for two reasons.
1. It makes wave (4) way too long for wave (2).
2. The final wave down from 2727.67 is an abc not a 12345 which it would have to be if it was a fifth wave.

So in answer to your question. My target for [3] is minimum 2338 because when you multiply the correct length of wave [1] by 1.618 you get 452.10. I called it 453. The odds that a wave three will reach a minimum of 1.618 times wave one is 83%.
So when you subtract 453 from the top of [2] at 2791.47 you get 2338.47 which I call 2338.
Why do I round the numbers the way I do. I don't know. I just like the sound of 453 and 2338. LOL



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