We have what seems to be a completed Elliot Wave Cycle.
With 5-3 completed and C of (ABC) correction completing on the .618 fibonacci retracement level of elliott waves 1 ---> 5, we could be seeing wave 3 of a new Elliot Wave Cycle.
Additional Cases For Long:
- inverse h&S formation
- RSI > 50
- Clean break of support turned resistance line
With 5-3 completed and C of (ABC) correction completing on the .618 fibonacci retracement level of elliott waves 1 ---> 5, we could be seeing wave 3 of a new Elliot Wave Cycle.
Additional Cases For Long:
- inverse h&S formation
- RSI > 50
- Clean break of support turned resistance line
Note
Wave 2 bounced off the 50% Fib level. Fib extension of wave 1-2 suggests a possible end of wave 3 meeting the 100% level. Looking for a pullback to previous R/S line.Note
Could also see a wave 5 truncation. I consider this play complete as a result.Note
ABCD? Note
Edit**** Could we see this?
Note
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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.