GREK trade ideas
Greece ready to continue back upMy Elliott Count for the Greece ETF is looking ready for an upcoming bull run.
I count us near the end of a wave ii, in an extended wave 3. As all us EW chartists know, this is an ideal spot for entering long, or buying call options.
However, Here is a BEARISH scenario,
where A=C and we are just starting the wave down....
This appears to be in sync with the National Bank of Greece (NBG) in which I have been closely following, here is a chart of that:
Would love to hear from other Elliott wave chartists,
Looks like the Greece ETF is on its final leg.This looks like the last leg up before a correction. Keep a close eye on it. The final "v" wave of an expanding diagonal usually "throws over" the diagonal line, so in that case we could see a quick jump to 28/29 zone before a decline, but it will most likely go down sharp and fast, so be careful.