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Re: 123tom post# 4701

Friday, 10/06/2017 5:57:38 PM

Friday, October 06, 2017 5:57:38 PM

Post# of 11271
The Elliott wave fractal patterns...


are like smaller waves that develop into larger waves, with the same pattern structure. usually seen as 5/7 waves in the dominant direction,followed by a retrace of 3 waves,as ABC .

Many different fractals exist as target zones,in a rally pattern. the highest I see at the moment is a finish target zone around 8 dollars. but along the way, the smaller fractal waves,have target stations at 5.30 area/5.55 area/ 6 dollars, etc...along the way one fractal has a key target around 6.80. That would represent a new higher high in the recent cycle. but for right now, the pattern is working on developing a full Wave 3, and that target zone for completion is the one around 5.30-5.50 area. The current struggling bounce, is trying to develop the Subwave 3 of 5 of wave 3, and that target is around 4.80-5.00. So this "rally wave" is just begun, and so far capped and struggling to get going. Its a bearish neutral sign to see it being capped this week. I anticipate if they intend to take it down to retest 4 dollars they will achieve it .

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