Has MBT started on its wave a?
In the move from June of this year until now, it's likely in wave 4. And on the weekly chart, we're likely still in the latter stages of a major wave 1.
So, if you have different waves depending upon whether you are looking at a weekly chart vs. a daily chart, how can you predict a downtrend?
The weekly chart's waves are the bigger picture. That's the wave count I look to the most in investing. Until there's five major waves up completed, there's not a long-term downtrend. But after 5 waves up on any chart tends to come an a-b-c correction. Remember though, some corrections are consolidations that are the a-b-c-d-e sideways ranges or triangle patterns.
Thank you, Sean!
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