Lauren you're probably new to this so I'll explain, there are waves called "Retracement waves" You see during an impulse move it doesn't move in a straight line. This bounce could very likely be wave 4/5; if you see the previous (wave 2) took 4 days to complete. Go back and take a harder look, and hurry up and wait.
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I'm not that new, and yes I understand this. But thanks for the lesson. He asked- "am I calling a bottom" but throughout this entire analysis he hasn't called it, in fact he's saying it's going up. No? He said "until he sees the indications". He's calling for $14,142. So going back completely on his analysis from yesterday. I'v been following Haejin for months and a big fan. But this is the first time I'm really questioning his analysis, as he seems to be going back on what he said yesterday. In fact he didn't mention yesterday's price projections (which were never even close to being hit) in this video. Or is he still calling for those low prices after $14,142?? I don't think so from this analysis. I was simply confused. Have I completely misunderstood this new chart? Cos I'm still confused as to whether the bottom is in. You're saying it's not. What am I not understanding? Confused.com
Primary count yesterday was a ABC correction (still a possibility as we can be in the wave 4/5); today he just pointed out a H&S pattern (not nullifying the ABC correction). And on top of that he provided a third, ABCDE triangle which also lands in the same 7,800-8000 Support level.
So yes you are missing quite a bit.
As the day progresses we will see if the pathway goes the H&S/ABCDE route, OR the ABC 5,3,5 zigzag.
Just because he brought up an alternate count doesn't mean he's washed away the primary. And in both scenarios we're looking at a 8000 range in the next few days .
Oh thank you for clarifying. What you've explained is a lot more clear that Haejin's latest video. I was going mainly on his video, he didn't mention the ABCDE triangle downwards in that. So you think he's saying downward triangle back down to 8k more probable after 14k?
You may have figured out by now that TA often follow confirmation bias, almost astrologically at times. ;)
Yes exactly