The Stock Is In it's 4th Wave and About to Being it's Final Fifth Up, This is a Classic Textbook Impulse Wave or To Say The Ideal Wave Structure, Since it Abides by All the Rules and Guidelines of Elliott Wave and also as You Can See a Perfect Elliott Parallel Channel Exists, Right The e Wave Inside Triangle of Fourth Wave Is on The Channel Support, Which Leads Up To Believe A Breakout of The Triangle Will Occur Today.
For The Price Objective for The Fifth Wave Top You Can Do The Following:
-Measure The Width of The Triangle and Project That Distance (Check the Prior Post)
-Use The Upper Boundary of The Channel as Price Objective For The Fifth Wave Top.
Elliott Said That Mostly 2 Motive Waves Within The Impulse Will Tend Towards Equality Both in Time And Multitude, So Wave 5 Can Then Be Equal to Wave 1 in Distance and Style.
Another Way To Arrive at Price Objective is To Use Fibonacci Ratios.
Educational Commentary: The Stock Has Displayed a Classic Impulse Wave.
First We see a Perfect Channel, Then Wave 3 Was an Extension As Anticipated,
Even The Third of The Third Wave Was an Extension Itself! If We Look at Inside The Third Wave The Wave 4 Within The Third Was in The Travel Span of 4th Wave Of One Lesser Degree, And Within Wave 3 Wave 2 and Three Also Alternate in Shape and Form as Per The Guideline of Alteration.