Wednesday, June 25, 2014

Hewlett Packard (HPQ) - perfect example of Elliot Wave in action




















Hewlett Packard (HPQ) weekly chart.
Perfect manifestation of Elliot Waves.

From early 2010, formation of Wave 1 down in 5 subwaves.
Wave 2 correction in 3 zig-zag subwaves
Wave 3 impulse in 5 subwaves
Wave 4 correction in 3 zig-zag subwaves
Wave 5 impulse in 5 subwaves
Zig-zag correction correction wave "a" in 5 subwaves
correction wave "b" in 3 subwaves
correction wave "c" in 5 subwaves.

On top of that, double top formation provided a reversal pattern that saw prices trending down in Elliot wave formation.

Fantastic!

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