The above is for this present so-called V shape being SuperCycle wave
...Continued from V Shape Recovery ?
In the previous write up a question was raise shouldn't using the index more appropriate to illustrate the point. So here, am using the STI to illustrate the point whether we are seeing a V Shape Recovery.
In V Shape from Elliott Wave perspective this is refers to either wave 1, 3 or 5 as the preceding wave is always a drop. Before starting, one must know EW only has 3 rules and if any violation, the wave count will be invalid. The 3 rules are :-
1. Wave 2 never retraces more than 100% of wave 1
2. Wave 3 cannot be shortest among the 3 impulse waves, namely wave 1, 3 and 5.
3. Wave 4 cannot overlap wave 1 except in diagonal formation
Case 1 -- STI is Wave ((1))