Last weeks target was the lower blue rail, then a move towards the upper blue rail.
As can be seen the move occurred pretty much as predicted, however we were already at H-2 and 4H-1 was put in at the lower blue rail, with 4H-2 being made at the next pivot scale up ML as shown below.
Did 4H-2 fall within its expected cycle? By making a sliding parallel of fork 4H345 and sliding it to 4H-1 It is reasonable to expect 4H-2 to fall on the upper bold blue parallel as previously suggested in the original projection and shown below and the latest 4H ML (fork 4H45-1)
So where to from here? We are either in wave 4H-3 or -5 and as can be seen above H-1 and H-2 are in. I am expecting a move within fork 4H0-1-2 towards the lower purple rail and below 4H-1. It is likely that the pivots shown as 4H-1 and -2 are actually -3 and -4, as I would expect a purple pivot scale turn around the purple rails. Just like Elliot wave with wave counting there are only retrospective confirmations, highlighting the dangers of using Elliot Wave as your primary investment tool! It should only be used in conjunction with other methods. As can be seen so far using a 5 wave up and down count, as I do with MAP waves it gives you a far better indication of where you are in the wave structure, as opposed to EW corrections! So long as you know your investment scale, it does not matter so long as you know that you have reached a top or bottom on that scale!