The actual price movements will vary after Wave 5 completes, especially if it's counter trend against the larger trend.
After wave 5 has completed and we see a 1-2 count minimum in a new channel, we can then start looking for reversal opportunities. Actually, it's still better to wait for a Wave 4 to appear in a new channel before taking an alternate position.
Price does retreat back a bit after hitting a Wave 5 peak but only to set up for a Wave 1 back the other way and then a Wave 2 move that normally creates the negative divergence we see on the TDI while price continues to move in the direction of the original 5 waves.
Even then, we still want to do our best to trade only with the larger trend so that we get better movements. I've actually seen price in a large downtrend, for example, continue to move down after Wave 5 was complete, move down further during the next 1, 2, 3 and then see only a very minor bounce after Wave 4, with price continuing to drop rapidly right after that.
The only way I normally enter right after a Wave 5 movement finishes is when I wind up getting in early on a counter trend move that I'm expecting to move pretty rapidly back into the larger trend.
But if it's a "with the trend" move Wave 5 completion, chances are I won't touch it for a move back the other way. I wouldn't try to go long on AU, for example, because it's dropped today AND the larger trend is still down, so bounces may be brief. I didn't see a single time today when I would have gone long AU during all the wave counts...only shorts applied, even after multiple Wave 5 completions during several waves.
However, if I've got a good counter trend TDI count on a larger time frame and on each successive smaller time frame, then I'd be more tempted to trade back the other direction. For example, if I see Wave 4 of 4 of 4 of 4 on the daily, 4 hour, hourly, and 15 minute chart setting up for a counter trend move, chances are pretty good that I'm gonna jump on it.
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