All channels have be comprehensively broken . This count is just a whisker away from being a 12345 to an ABC . ABC means the company would be in serious distress , Just see this chart on aritmetic scale.This is the midcap story.
Always need to be careful when 5 waves of a midcap/small cap stocks are complete or for any other stock . In good stocks there will always be wave extensions for eg HUL / HDFC Bank etc . and these will be difficult to count . So in brief it u see a stock where u can count 5 waves clearly over lets sat 5-7 years that stock is doomed .
FALL WAS NO SURPRISE FOR ELLIOTT WAVERS . BLUE TEND CHANNEL - JOIN WAVE 2 AND 4 AND DRAW A PARALLEL TO THE TOP OF WAVE 1 . THIS IS SOP WHEN WAVE 3 HAS GONE TOO FAR. SEE HOW THE PRICE ACTION FITS IN THE CHANNEL PERFECTLY . SEE THE FIB RET OF 50 REACHES WAVE 4 OF 2 PREVIOUS DEGREES, A CONTRACTING ENDING DIAGONAL AS WAVE 5 OF 3 COMPOUNDED THE VIOLENCE OF THE MOVE .