We are still in a large B wave it looks like. Most likely taking the form of contracting triangle. E looks as though it will also be subdivided into 5 waves. Elliot said this is possible when market needs to correct longer than normal. He called it ABCDEFGHI.
Note
Volume dropping is what normally happens inside this pattern. As you can see, the volume has been steadily dropping since we entered it.Note
E is subdividing as predicted and forming its own triangle within the larger.Note
well its touching the large triangle. scratch that small one away. still same plan
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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.