Eliott correction wave combination - Long setup
Updated
Eliott correction wave combination of a Zig-Zag then ABC wave back into resistance and finaly a triangle ABCDE wave.
On higher time frames we have a clear Eliott impulse wave unfolding.
Wave 1: July - August
Wave 2 (Correction): September
Wave 3: October
This is this 4th wave (Correction) and it looks to be nearing an end.
Looks to be a setup for the 5th (last) wave of this trend.
On higher time frames we have a clear Eliott impulse wave unfolding.
Wave 1: July - August
Wave 2 (Correction): September
Wave 3: October
This is this 4th wave (Correction) and it looks to be nearing an end.
Looks to be a setup for the 5th (last) wave of this trend.
Note
Simplest setup would be waiting for price to create and break a triangle pattern to the upside. Breaking above the "X" of the wave ($64250) could be a confirmation / trigger.Good luck traders!
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