Bearish Elliott Count
Bearish scenario:
1: wave (b) retraces to fib level 0.5 (red fib, red arrow)
2: wave (c) = .786 of wave (a) (yellow fib, yellow arrow)
...which matches $4500 level
...which matches wave C = 1.0 wave A (blue fib)
1: wave (b) retraces to fib level 0.5 (red fib, red arrow)
2: wave (c) = .786 of wave (a) (yellow fib, yellow arrow)
...which matches $4500 level
...which matches wave C = 1.0 wave A (blue fib)
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