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Originally Posted by serhito
Jamie,
Thank you so much.
Could you explain the A and B you have on there ?
Does it mean that :
1) we are in a big correction (5-3-5) which has the first 12345 sequence as the first leg A ?
2) the second leg B (3 waves) is the double zigzag ?
3) we are now looking for a 5 wave sequence to the upside (C) ?
What would be the target for that last leg (C) ? How do you establish that ?
What would invalidate that scenario ?
but most important... what were the clues that you saw to come up with this scenario ? it sounds like a good one, but i would have never seen it.
Thank you so much for your input.
Serge
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The A and B are the first two waves of a large correction that began in December 2004. We are looking for the C wave to unfold in 5 waves now. This is one count that fits all of the rules of Elliott. Most importantly, the USD rally in 2005 is impulsive and the decline since has been corrective (overlapping).
