I'm just looking at my manual on Elliott Waves to try to identify this chart pattern . ' Up Trending Phase ; a series of higher highs and higher lows , which usually consists of three to four main drives , with pull backs or counter trends of three to four weeks . Average consolidation period of three to four weeks in a strong trend . Any spacing is a sign of strength ' Investment Strategy ; Long term investors should look at buying after the first higher low , after the accumulation phase . It appears to me that we need a few more rallies and retreats , along with increased volume , good spaces between rally and retreats . Once this phase is complete we will enter a Bull Run . ' Note - DO NOT try to trade against the trend once it has formed , in an attempt to capture the retreat , as it is much safer swimming with the tide ..... This chart is still developing - but once completed , its off to the races .......... cheers.....
MRM Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
