An RSI based wave cycle numbering system
The need to develop (after many years of experience) a simple to understand consecutive wave system, drove me towards an RSI-wave identification technique. Waves are numbered sequentially based on a simple 0 (base) to 1 (top) rule (always keeping in mind the minor EW waves, since the method is closely correlated).
The gold chart above shows both the proposed method and the standard EW (in parentheses) numbering systems. For rising wave cycles, peak numbers are 5, 9, 13, 17, 21 etc or (5+4xN), whereas for falling wave cycles we have 3, 5, 7, 9, 11, 13 etc or (3+2xN), where N=1,2,3, etc.
This method can be used effectively, when Elliott wave number ambiguity appears (and this occurs many times). In the present case of gold (weekly chart above), wave 17 plus it's possible extensions is expected to conclude this cycle (in EW terms e, c.5 & C).
The gold chart above shows both the proposed method and the standard EW (in parentheses) numbering systems. For rising wave cycles, peak numbers are 5, 9, 13, 17, 21 etc or (5+4xN), whereas for falling wave cycles we have 3, 5, 7, 9, 11, 13 etc or (3+2xN), where N=1,2,3, etc.
This method can be used effectively, when Elliott wave number ambiguity appears (and this occurs many times). In the present case of gold (weekly chart above), wave 17 plus it's possible extensions is expected to conclude this cycle (in EW terms e, c.5 & C).
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