So the EWO has met minimum requirement for 4th wave? What if 2278 is exceeded tomorrow?
EWO has met the minimum requirement for a fourth wave. Price has not because it has not crossed under the EMA-34, yet. Could still be a triangle or multiple flat. Please review the definition of a multiple flat and the X-waves within them. Slightly higher highs in that context have no other special meaning.
Is that a bill Williams counting rule where price must cross below 34 ema?
His rule is that the alligator intertwines in a fourth wave, with price above and below it. The EMA-34 almost always lies dead on top of the balance line of the alligator.
Joe, when do you decide to switch from a 1 hour chart to a 2 hour chart? I reason I ask is that the 1 hour chart broke down below the EMA-34, but the 2 hour chart has not. Thanks.