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I have seen this movie a couple of times before. One was not so far ago... April 6th. Sharp move down after a breakdown of a bear flag. RSI in extreme levels marked the wave iii of wave 3. Then bear flag again, triangulation of the rsi with inside hidden bearish divergence, and another move down to complete the wave v of wave 3.
Now, again the same... Sharp move down after a breakdown of a bear flag. RSI in extreme levels marked the wave iii of wave 5. Then bear flag again, triangulation of the rsi with inside hidden bearish divergence, and... waiting for another move down to complete the wave v of wave 5. Both bear flag projections coincide with the target of the Elliots waves, it does not leave room for questions... Also, volume is decreasing, as expected from Wyckoff's theory, one final? shake out is expected
I have seen this movie a couple of times before. One was not so far ago... April 6th. Sharp move down after a breakdown of a bear flag. RSI in extreme levels marked the wave iii of wave 3. Then bear flag again, triangulation of the rsi with inside hidden bearish divergence, and another move down to complete the wave v of wave 3.
Now, again the same... Sharp move down after a breakdown of a bear flag. RSI in extreme levels marked the wave iii of wave 5. Then bear flag again, triangulation of the rsi with inside hidden bearish divergence, and... waiting for another move down to complete the wave v of wave 5. Both bear flag projections coincide with the target of the Elliots waves, it does not leave room for questions... Also, volume is decreasing, as expected from Wyckoff's theory, one final? shake out is expected
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