Why I will be buying soon.
"Often wave two will retrace wave one by either a 50% retracement, 61% retracement, or 78% retracement. During wave two investors and traders began to feel assured once again that the downtrend has continued."
"Informed traders will begin to recognize this pattern and start to position to the long side of the market. Most other traders however will continue to add to their short positions and remain bearish. The news at the end of the wave two swing low is often more pessimistic then at the start of wave one."
forextraininggroup.com/characteristics-and-personalities-of-elliott-waves/
"Often wave two will retrace wave one by either a 50% retracement, 61% retracement, or 78% retracement. During wave two investors and traders began to feel assured once again that the downtrend has continued."
"Informed traders will begin to recognize this pattern and start to position to the long side of the market. Most other traders however will continue to add to their short positions and remain bearish. The news at the end of the wave two swing low is often more pessimistic then at the start of wave one."
forextraininggroup.com/characteristics-and-personalities-of-elliott-waves/
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.