I have invested some time ago in this stock (Ferrari) which is quoted both in Italian Stock Exchange and in NYSE (see quotations below)
What I am wondering, and this is the question for Elliott Wave experts, is how this fact (=quotations of the same stock in 2 markets) can help in the EW analysis, or complicate it.
I mean... it seems we are in the 5th wave now but if I look at the "Italian graph" (let me call it this way, I mean the Euro quotation on the Italian market) it seems there is a Diagonal.
This Diagonal disappears in the "NYSE graph" (the USD quotation on the NYSE market)
So, in cases like this, my question is: "who" is right?
If I see, for example, an ending diagonal in one graph and no ending diagonal on the other one, does it mean the the EW calculation is wrong? The 2 graphs should show the same "labeling" and the same impulse waves/corrections in each time period of the 2 charts?
So impulse/impulse, correction/correction, flat/flat.... ecc.... I mean, what I see on the "Italian chart" must be the exactly the same structure that I see on the "NYSE chart"
And cases like impulse/diagonal, flat/zigzag, should be relabeled, because it cannot be that in the same time period there is (for example) an ending diagonal on the Italian chart, while there is a clear impulse on the NYSE chart?
Since English is not my mother language I hope I succeeded in explaining what is my doubt
Thanks in advance
What I am wondering, and this is the question for Elliott Wave experts, is how this fact (=quotations of the same stock in 2 markets) can help in the EW analysis, or complicate it.
I mean... it seems we are in the 5th wave now but if I look at the "Italian graph" (let me call it this way, I mean the Euro quotation on the Italian market) it seems there is a Diagonal.
This Diagonal disappears in the "NYSE graph" (the USD quotation on the NYSE market)
So, in cases like this, my question is: "who" is right?
If I see, for example, an ending diagonal in one graph and no ending diagonal on the other one, does it mean the the EW calculation is wrong? The 2 graphs should show the same "labeling" and the same impulse waves/corrections in each time period of the 2 charts?
So impulse/impulse, correction/correction, flat/flat.... ecc.... I mean, what I see on the "Italian chart" must be the exactly the same structure that I see on the "NYSE chart"
And cases like impulse/diagonal, flat/zigzag, should be relabeled, because it cannot be that in the same time period there is (for example) an ending diagonal on the Italian chart, while there is a clear impulse on the NYSE chart?
Since English is not my mother language I hope I succeeded in explaining what is my doubt
Thanks in advance
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