My previous analysis indicated a bullish triangle pattern on the daily chart and the market is reacting as expected.
Yesterday I shared a completed cycle of wave 1 with the market correcting, now we have that correction of wave 2 completed at the 0.382 fib level and the bullish trend is back.
Based on Elliott Wave guidelines, Wave 3 should be very strong and not hug the trendline, also we should expect the terminus of wave 3 at the 200% zone is wave 3 is extended, and we are definitely seeing a potential of wave 3 extending.
As always, your thoughts and feedback are always appreciated.
Signed,
Samore
Yesterday I shared a completed cycle of wave 1 with the market correcting, now we have that correction of wave 2 completed at the 0.382 fib level and the bullish trend is back.
Based on Elliott Wave guidelines, Wave 3 should be very strong and not hug the trendline, also we should expect the terminus of wave 3 at the 200% zone is wave 3 is extended, and we are definitely seeing a potential of wave 3 extending.
As always, your thoughts and feedback are always appreciated.
Signed,
Samore
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Related publications
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For Training:
Website: wavefxacademy.com
Telegram: t.me/wavefxacademy
IG: instagram.com/wavefxacademy
Website: wavefxacademy.com
Telegram: t.me/wavefxacademy
IG: instagram.com/wavefxacademy
Related publications
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.