Complex corrections are typical of wave 4 corrections in Elliott Wave Theory. This is what this is looking like. Which means an expected thrust upward is due to follow. At least if my assessment it right. And while I'm on it, let me say that this is what all trading is about. Especially technical trading with EW. it's not a game of being right... it's a game of probabilities and risk management.
The bigger question here is what will the thrust give way to? I see this as just another opportunity for renewed sell-off following a new high. We will see.
The bigger question here is what will the thrust give way to? I see this as just another opportunity for renewed sell-off following a new high. We will see.
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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.