From lilitulip: why the wave 4 ended last week? thank youlilitulip - Good question! Let me quote from my last Friday's comment:
"... The market has moved in a way that is identical to our prediction since 2 weeks ago (see the purple line wave count). With that said, there is no reason for us to change our preferred scenario at this moment. ... "
So I'll continue follow the purple line until the market tells me otherwise.
From lilitulip: yes, i read the chart, so is that because it reached the high point but couldn't break up, that's why the wave ended? i just not sure how long it take to say end. thank youlilitulip - Good question! We can assume that a wave ends when it reaches our target price and target time AND with a reversal price action. That was what happened last Friday ... the wave showed an ABC up (i.e., wave-4.a, 4.b, 4.c) starting from last Monday and ended on last Friday with a reversal bar. That was why I guessed that the wave-4 was ending. If the reversal bar (last Friday) is taken, then we need to accept some alternative count and review our assumption.
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