for gold, you're saying that the c wave might have ended. you have wave a from 1522-1662, b wave from 1662-1625, and c wave from 1625-1738.
however your c wave is only 113 pts long, compared to wave a's length of 140.
c waves are often longer than a waves, going upto 1.618 times wave a, so why do you think c wave will be truncated this time?
nim1984 - Good point! We don't know if wave-c has finished yet. That was just my guess because GCG12 is rolling over to GCJ12 now. Sometimes a reversal occurs around futures contracts' rollover dates.
Not a bull, not a bear, I am just a wolf ... 偶還是習慣稱行情漲為紅盤跌為慘綠
1) if SPX goes to 1370 first before C5 formed, the C5 will equal C3, or may be great than C3, right ? but we know C5 can't be great than C3 according Wave Theory. How can we explain this?
C.3 = 84 (1333-1249)
C.5 could be: 1300+84=1384 if C.3=C.5
C.5 could be longer than C.3 (as long as C.3 is not the shortest was in C)
2) If C5 is really formed at 1370, the Fib 61.5% pull back target should be great than 50 point, right ?
If C.5 ends at around 1384, the ideal correction target for C is where the previous 4 ends (C.4, i.e., 1300 area)
3) how can we draw the a-b-c waves after C5 (It's not indicated in the chart ??) I mean wave 'b' is great than C5 <-- Does it mean 'extend' wave instead of a-b-c waves (purple lines) ?
The ending of C.5 is the ending of wave-C. After that a wave-D could be formed. We don't know if wave-D will be in regular or irregular correction form until we see the market's behavior.
Not a bull, not a bear, I am just a wolf ... 偶還是習慣稱行情漲為紅盤跌為慘綠
I'm a big fan of Elliot wave theory and harmonic trading, however you way over complicate the labeling which deters me (and probably others) from following along. Simply stating the pair and TF (in post) with wave counts 1,2,3,4 a,b,c,d and sub waves as 1a, 1b, 1c, 1d ect works just fine. This, of course, is just my opinion, in the whole scheme of things, it doesn't make much difference.
Big ups for the thread though not many people keep up with these sort of threads. So even if you don't conform to my way of thinking do keep posting charts others will surely find it helpful or at the vary least interesting.
johnny2pips - Thanks for commenting and the suggestion. Please take a look the very first post of this thread, and it will give us an idea about the convention of my wave labeling. It is actually much easier to read and much less confusing than that of most famous EW techinicians. Yes, I agree that "it doesn't make much difference" on different labeling ways because we EW techinicians speak the same language - impulsive vs corrective waves.
Not a bull, not a bear, I am just a wolf ... 偶還是習慣稱行情漲為紅盤跌為慘綠
偶就說: 如果妳認為要學("Must learn")去鎖利("lock profit") 為何不讓 profit run 呢? 為何要限制利潤的空間呢? 讓 profit run 是大道至簡的一件事就是設個 stop order 罷了 (either hard stop or mental stop)