Wave Count, (Which one is right)

[Ainsley]

Can anyone clarify the below wave count interpretation for me,

Lets assume that the wave count is a 3 - 4 downturn with support from the oscillators etc

Now lets look back a little and see that the previous wave 5 prior to the downturn was an incorrect count, ie the oscillator top had exceeded the previous wave 3.

Now the question is, do I accept the current wave count ie the 3- 4 downturn, even though the previous wave 5 was incorrectly lablelled.

Assumptions
Im using the daily chart
The current wave 3 -4 downturn is supported by the oscillators
The previous wave 5 up, prior to the downturn was incorrreclty labled ie the 5/35 oscillator was exceeded and should have been the labelled with the 10/70.

Any thoughts on this would be appreciated.

Regards

Ainsley

[Philby]

I would have thought that the two oscillators, (5,35 & 10,70), were telling you that there is a reasonable chance of a wave recount and that the most probable recount was that the previous wave 5 would be relabelled a wave 3 and that the interim 3/4 should fit the minor wave sequencing for a 3/4 if you go up a time period ie daily up to weekly.

[MR]

The original AGET wave count is the benchmark for your Elliott Wave decisions.
The others are options to reference to when you have questions about the benchmark.