This Is Not Yet Third Elliott Wave Coca Cola Stock WHY
This Is Not Yet Third Elliott Wave Coca Cola Stock (WHY?)
According to the Elliott wave rules, an ordinary
third wave must reach at least the 161.8% Fibonacci
extensions of the first wave.
In this instance,
Coca Cola (KO) stock has not yet reached that
level. Therefore, that is not yet the third Elliott
wave. Now, one understands why I always say
that the Elliott wave analysis is one step at a time.
For now, we will label it X-wave or B minor wave
of a gigantic flat correction with an expectation of
a possible C minor wave of that supposed to
be the gigantic flat correction.
By looking at it
from different angles, one can prepare oneself
for all the possible scenarios. Please map out the chart
and wait for a high probability trade setup before
applying a top-down trading strategy.
Alright, note that where the Coca Cola stock is at this
junction, it can oscillate between $48 and $52 levels.
Happy Trading To All
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