it's charts like this that lead me to hesitate on calling this a top though, how do you see this developing if your model was invalidated and the bull run were to continue?
https://www.tradingview.com/v/nOHd1wTW/
https://www.tradingview.com/v/nOHd1wTW/
The analysis given is a local count. it may fit within the bigger picture in many ways including that count. Im not sure about that one though, I dont think falling wedges may occur in wave position A.
Yes, you can have a leading diagonal in wave-A however, it will be just like a wave-1 LD in that it will have 5 clear, impulsive waves. Takes form of 5-3-5-3-5 and has overlap of 4-1. It fulfills two of those requirements, but not the impulsive one. If it were a LD, the B would hit 50% of the fall from 1163-152 in very short order and the C will very likely end up in the double digits. I do not subscribe to a LD formation, personally, but that's not to say it's not a complex correction taking the basic shape of a diagonal.
I personally would think a slow and steady growth like we've had the past few weeks would be very bullish?
Is that a statement or a question?
