Elliott Wave Outlook
Bullish Wave 5 is in progress
Buy the breakout of the pink line to the targets of wave 5 at Fibo level 0.618 or 1.0
The red box is a potential reversal zone of wave 5 to the down side
Buy the breakout of the pink line to the targets of wave 5 at Fibo level 0.618 or 1.0
The red box is a potential reversal zone of wave 5 to the down side
Note
Price did not break above the pink line , so there is a possibility for an complex corrective structure being forming and I suggest it to be a Running Flat Corrective Structure , 3.3.5 internal structure, as shown in the chart below Currently , the final bearish impulsive wave C of the running flat is being in progress , then the final bullish wave 5 is triggered to the 0.618 or 1.0 fibo levels
For a running flat structure , wave C should not break below wave A , if that happened , the running structure is invalidated and there maybe a possibility for a deeper down correction by an Irregular Flat
Note
Running Flat is in progressNote
Bearish wave C of the Running Flat is Completed Will it reverse up to form wave 5 ? we gonna see :)
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.
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.