IS it a true Elliott Wave 5 if oscillator is still going up?

[bbchris]

Hi everyone,

Have been following UPS and noticed on its weekly chart it looks very much like a true Elliott Wave however the oscillator (5.35) still looks like it could go up and eventually match the Wave 3 one which would then cancel it as a true Elliott Wave.

Is there any way I can use an indicator on the Oscillator to keep an eye on the progress of the Wave 5?

I really appreciate any advice or guidance. Thank you

[MR]

Look at UPS Monthly. Wave 3 in progress. Look now at UPS Weekly using alternate Long wave count possibility. Similiar Wave 3 in progress labeling.

For now you can only infer this as a possiblity. The Elliott Oscillator is, to some degree, a lagging indicator and it will only confirm over time as strength, overall trend in general, continues.

THe only way to improve your understanding of the Elliott Wave pattern is to add as many other AGET indicators, studies to the picture as possible. This will build a better picture of the trading opportunities available in the near future.

Don't forget to use the other 10/70 and 5/17 oscillators with the 5/35. This should help you as you eye the progress of the current original w5 labeling. There are some good articles or information in the Advanced GET User Group, located in "File Share" where you can get a better explanation of this.

Hope this helps.

Marc

[bbchris]

Thanks Marc! I'll do more reading. Your advice was most appreciated.