That would be so inaccurate lol. Price is dynamic not rigid, so your TA better be as well. The difference with EW'ers is we are always ahead of price action. Theres a saying when flying that you have to be at least15 minutes ahead of the plane. Flight plans also always have alternate routes.
The superposition of all possible scenarios must be exposed by anyone pretending to practice the Wave Principle in any professional capacity. Let's see some alternate wave counts with puke points, expected probabilities and position sizing. Anything less would be uncivilized.
Stockcharts.com has an overlay called zigzig, is this of any value in trying to plot waves? I entered a position in CRDL.to this morning, where is the elliot wave cycle are we?
I would just use tradingview. The charting software is far superior and free. They even have a bunch of EW options. I would be looking for this to continue to 3 (fib level .618 @ $3.25), and then pull back to 4 (fib level.382 @ $1.93). If it drops below .50 fib on the retrace to 4 then I would consider getting out. The count would be invalid if 4 crosses into 1. For the 5 wave: If wave 1 and wave 3 are not extended (wave 3 not > 1.618 of wave 1), look for wave 5 to extend. If wave 5 is expected to extend, you can expect wave 5 to reach 1.618 of wave 1 + wave 3. So the blue line would be this extension according to the rule (1.618 of wave 1 + wave 3..) I would expect a longer 5 wave because the 3 wave looks stunted with the longer 1 wave...but the 3 wave is more than 1.618 then length of wave 1 so technically it is extended. I also ran it through wavebasis and it came out with a different count where we are on wave 5. You would have to figure out which you think it is because if you apply the rule (1.618 of wave 1 + wave 3..) then wave 5 is pretty extended already.
See post 126 I noticed that wave 4 comes into wave 2 which breaks the rules. If I extend the waves then wave 3 is the shortest which also breaks the rules.
On my phone but it looks like zig zag just let's you do zig zag lines with prices...kind of like when you put a big racing stripe on a car.