After a strong rally and a corrective pullback, there's just one missing piece to the chart I'm waiting on to determine which of the three scenarios will play out.
Really sharp technical breakdown. The distinction between green and yellow counts hinges on that $250 threshold which makes sense given how much resistence AMD has faced in prior attempts at breaking through similar levels. What caught my eye is the teal count, even though you label it low probability. Expanded B waves are notoriously tricky to spot in real time and can ruin an otherwise clean Elliott structure. I've been burned tracking AMD through similar setups where fundamentals screamed buy but the chart just wouldnt cooperate until much later.
Yeah, I don't think teal is as likely, though it wouldn't technically be complete yet until we get higher toward at least the 78.6% extension. That said, given we're seeing a corrective move up, it lowers that probability because we'd be looking for 5 waves up to complete the fifth wave of the C wave of that expanded B.
Really sharp technical breakdown. The distinction between green and yellow counts hinges on that $250 threshold which makes sense given how much resistence AMD has faced in prior attempts at breaking through similar levels. What caught my eye is the teal count, even though you label it low probability. Expanded B waves are notoriously tricky to spot in real time and can ruin an otherwise clean Elliott structure. I've been burned tracking AMD through similar setups where fundamentals screamed buy but the chart just wouldnt cooperate until much later.
Yeah, I don't think teal is as likely, though it wouldn't technically be complete yet until we get higher toward at least the 78.6% extension. That said, given we're seeing a corrective move up, it lowers that probability because we'd be looking for 5 waves up to complete the fifth wave of the C wave of that expanded B.