Alternate Counts
I’m presenting the two alternate wave counts today. The first is Chart A above. This shows that Subwaves 1 and 2 (brown) have formed and Subwave 3 has started. These are subwaves of Wave 5 (red) which will be extended, like the Waves 5 of Major Wave i (blue) and Major Wave iii (blue).
The second chart is Chart B below. This shows that Subwaves 1, 2, 3 and 4 have formed and Subwave 5 has started. The end of Subwave 5 (brown) will be the top of Wave 5 (red) which will be shorter than Wave 5 (red) of Chart A. Thus how much further up the STI will go could distinguish which is the invalid wave count.
It is often that there will be alternate wave counts in Elliott Wave Analysis. I have usually chosen to only present the highest probability wave count and make adjustments if the chosen count is wrong. For now the two alternative wave counts have about the same probability. We shall see how they develop next week.
