zippy1day

zippy1day

With the new "Trading View" Elliott wave count tool, if this is accurate we should correct out of here?

zippy1day

Have we completed the 5 leg down as with pressures all over the place it is hard to tell?

zippy1day

There is no doubt we are at key levels and made target for the Inverse Cup & Handle!

zippy1day

If you look back to August/September 2020 we made a similar wave (2) so does history repeat or rhyme?

zippy1day

Looks like this bottom is playing out:- thepatternsite.com

zippy1day

I tend to lead towards this higher degree count as it fits very well, however invalidation levels as per chart may destroy this count!

zippy1day

Not often seen recently but seems to be playing out absolute target as per chart!

zippy1day

This may put a little more meat on the bones of this type of Wyckoff Flat Structure and so if it plays out correctly we are about to enter Phase D? Of course this open to interpretation and I am sure there will other ideas depending which side of the fence you sit on!

zippy1day

Are we mimicking the May/July '21 re-accumulation, I think possibly but these levels probably need to hold?

zippy1day

Are we in some sort of higher wave 4 ascending pattern? thepatternsite.com

zippy1day

In my opinion we have made an Adam & Eve top and already overshot target at C. It is possible now we want to go and retest the confirmation line at A. thepatternsite.com

zippy1day

It looks like another Wyckoff re-accumulation phase, so maybe sideways for awhile between support and resistance?

zippy1day

I would like to say this was my idea but unfortunately it is not but I believe to be somewhere near the mark! Like most I was looking for a 1/2 in a lower degree when possibly we are making a wave (ii) in a higher degree with invalidation points as per chart.

zippy1day

Obviously this is not a full gone conclusion and it has to play out before we can confidently consider this a "Hidden Bullish Divergence"? www.perfecttrendsystem.com

zippy1day

As discussed in Bulkowski's overview a very poor performer but it is shaping up this way with two Higher High's(HH) and three touches on the lower diagonal making Lower Low's(LL). thepatternsite.com

zippy1day Updated 

It does look convincing now that key levels are being broken for a push upwards! thepatternsite.com

zippy1day

Even if you are not an Elliott Wave trader I think you could agree this looks like a zig zag and sort of flattish depending on whether or not we are finished here? This video sort of describes it quite well! www.youtube.com

zippy1day

The question I would imagine most asking "Are we done here or more to spill?"