Nextera Energy (NEE): Is It a Wave 3 or Wave 5?

SUMMARY

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Beginning Ellioticians often have a difficult time to discern when to label the coming peak as a wave 3 or a wave 5. The below chart of Nextera Energy (NEE) shows a similar instance. Many newby technical analysts would call the white 3 a 5 but best to discern such clarification is through subwave labeling. It's like drilling down to the finer details to determine which wave label is the most ideal. IF this label is correct, then there is a requisite wave 4 correction dead ahead and that could decline 38% or so but can't overlap with the peak of 1.

The subwaves of white 3 are shown in blue and the five wave up sequence seems pretty solid. That is the best way to qualify higher degree of trend labels. That means one must gain proficiency in being able to label actionary and all variations of reactionary waves. The white wave 4 is also likely to be an ABC sequence and this coudl also coincide with a downward wedge pattern as shown by the blue lines. Once complete, the way will be cleared for white 5 to bring about all time new highs.

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