hornblower
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martin brown said:hb, what timespan is your definition of "long term"?
typically the 5th wave should be approx the same size move as the 1st wave. if the 5th wave exceeds 1st wave, then its possible that we are could still in wave 3.
however you have to beware of 5th wave failures, since the 5th wave is the most obvious to trend following market participents, and when everyone jumps on the same side of the boat, well.......![]()
are you looking at Nov '05 to current ?
if thats the case, then we may have already completed the 5th wave :?:
Hi Martin
I was looking at a 1 year chart , daily bars ,starting on the 16th of April, 1st wave completed 1,9023 on the 12th of May