Hi Haejin, I am just trying to understand your charts better. So wave 4 is in progress and should complete around midday of 9/8 or around $12.25. Whatever comes first right?
RE: OMG Update: $15.97 Target
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OMG Update: $15.97 Target
Hi Steepio, you can't pinpoint an exact moment or price target with eliot waves. It's all about noticing a pattern and based on the pattern predicting how the market can move.
Could be that wave 4 is already set, could be it's about to go lower then $12.25. the arrow is an indication.
If you want to take position, i would advise to ladder your buys to get in.
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Time and price points on chart are relative. Price trumps time. I thin price turned up already and bottom of Wave IV was $12.31 or so.
Because it's impossible to pinpoint the bottom of any wave, laddering with just 3-4 rungs is better than one.
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