I have been thinking about wedge formations, but using them only between two of the same degree level wave counts. Like wave 3-4 in Cycle degree, or wave 1-2 in Cycle degree. (1937-1942) Two types of wedges, a declining bottom wedge, or a rising wedge. They both spell trouble for the prevailing trends and we should expect complete reversals ahead.
At this time I’m sure we have many versions of wedges matching each and every degree level. 15 different degrees of Rising Wedges and 15 different degrees of Declining Wedges.
I will not draw out every little Micro wedge as that would be silly, but using 3 degree levels would be useful. No sense in using wedges, if we connect Intermediate degree peaks with Cycle degree peaks.
Below I have inserted a few large wedges with no wave labeling, and if the past wedges are any indication of what can happen, then oil should have a super bull market after it hits the bottom trend line again.
Since the 1980 peak crude oil has displayed three sets of wedge patterns. Since the 2008 peak crude oil has formed yet another huge wedge, which means a huge bull market, would be forced out once the oil price hits the bottom trend line again.
The US dollar also has a huge Cycle degree wedge in progress, and it may also hit the bottom trend line again for the 5th time.?
Over time I will post more past wedges, with page breaks, so we can fully understand, the power that these wedges can unleash.