Johnny Firpo

[Johnny Firpo @JPalicska]

@ewstrategy 2. wave could not be a normal A-B-C-D-E normal triangle as far as I know. It could be the last (Y wave) part of a W-X-Y correction, but not a simple 2. wave.

[Johnny Firpo @JPalicska]

@ewstrategy It's very reassuring to see another wave count that interprets the past 9 months of sideways movement as an expanding triangle formation.

[Johnny Firpo @JPalicska]

@ewstrategy Except if it is an ending or leading diagonal! 🙂

[Johnny Firpo @JPalicska]

@ToddFGordon

[Johnny Firpo @JPalicska]

@ToddFGordon So, could that wedge you showed in the S&P 500 be a similar wedge-shaped triangle? By the way, I have never encountered this pattern in a downward trend, only in an uptrend. Many thanks, J

[Johnny Firpo @JPalicska]

@ToddFGordon I encountered them somewhere in an Elliott Wave tutorial a couple of months ago and realized that yes, they were my tricksters. Recently, I recognized one in NVDA, but this time I was cautious about it.

[Johnny Firpo @JPalicska]

@ToddFGordon Hi Todd! First of all, I would like to thank you for your videos, I really appreciate them. I would like to know what your opinion is about wedge-shaped triangles. I was tricked by them many times in the past, when I thought they were wedges and I bet on steep price drops.

[Johnny Firpo @JPalicska]

@T_90AK It is approximately two companies of T-90 tanks. The first two column each consist of 12 tanks, while from the third column there are Infantry Fighting Vehicles (IFVs). Although I am not a military expert I can see this clearly.

[Johnny Firpo @JPalicska]

@AlexKoprivica Dear Alex, blue wave 1 is not clear for me, since wave 3 of blue 1 would be the shortest wave among 1, 3 and 5 that is not allowed even in wedges.

[Johnny Firpo @JPalicska]

@pop_ey_ch @ToddGordonTA But they could do. Here is a quote/chart from Visual Guide to Elliott Wave Trading (Bloomberg Press)