After a gradual bullish movement, it was tracked down to find that the small correction was one of the elliot ABC correction. It is an indication that there's a second upcoming wave as soon as prices touches the provided structure of support . Therefore it is expected that the second wave will surpass the tip of the fifth wave.
After a gradual bullish movement, it was tracked down to find that the small correction was one of the elliot ABC correction. It is an indication that there's a second upcoming wave as soon as prices touches the provided structure of support . Therefore it is expected that the second wave will surpass the tip of the fifth wave.
The markets behavior was of a extentional wave triangle,that was the preceding move before it started the impulse/ classic 5 wave move upwards. Analyzing where it stands from the 4th wave correction I expect it to complete the 5th wave so it also completes the inverse 5 wave down of a larger degree ,in which that large degree is a correction of larger one than the...
As seen on the graph the strong support is to be played on a few days before an uptrend continues as I checked my Fibonacci retracememt the support is based on its 0.5 turning point to complete the fifth wave on the elliot impulse .
After a two touch on a bullish trendline,a head and shoulders pattern was seen .It gives a short sell to make a quick buck then price will go up again due to a prediction on the elliot wave theory which is not given in the chart. Comment below on what you think
After analysing and checking with the support and resistant+trendline multi-touchs, the elliot wave was applied and I suspect it to complete the fourth and fifth wave which will be a bullish movement