CBA 0.63% $96.58 commonwealth bank of australia.

chart - jc and ultra fart, page-2

  1. 436 Posts.
    hi kman,

    nice chart - two elliot principles apply here:

    1. 3rd wave in an impulse can't be the shortest
    2. 4th wave can't intrude into the 2nd wave's territory

    This tells me that the most likely structure (so far) is two consecutive impulses, separated by a correction and followed by a correction - ie, an incomplete upwards 5-wave impulse. What you have labelled as A-B-C would be the 4th wave in the structure, and what you labelled as wave 5 would actually be wave 3.

    that's just my opinion...

    it could turn out that CBA has completed a 3-wave upwards zig-zag correction, and what we are seeing now is the start of a downwards impulse - but I doubt it - far too messy for a downwards impulse...

    the most I would hope for is a bit more messy correction down (so I can dump my shorts) before CBA surges up to new highs in the 5th wave...

    hope that helps..

    regards,

    ultrafart.
 
watchlist Created with Sketch. Add CBA (ASX) to my watchlist
(20min delay)
Last
$96.58
Change
0.600(0.63%)
Mkt cap ! $171.3B
Open High Low Value Volume
$97.25 $97.38 $96.41 $200.6M 2.089M

Buyers (Bids)

No. Vol. Price($)
1 300 $96.56
 

Sellers (Offers)

Price($) Vol. No.
$96.62 1279 1
View Market Depth
Last trade - 16.10pm 14/05/2021 (20 minute delay) ?
(live)
Last
$96.60
  Change
0.600 ( 0.68 %)
Open High Low Volume
$97.11 $97.38 $96.42 107422
Last updated 15.59pm 14/05/2021 (live) ?
CBA (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.