kbosworth9

kbosworth9

I adjusted the previous chart to account for time elapsing and added the Fib retracement to see if the level are inline with my projections. Seems like they are but as a noob to Elliot waves, I am submitting this as just that, a newbie attempt to project the bottom of this wave. Looks promising so far.

kbosworth9

I am new to charting so I could definitely be wrong. :-) Based on my Elliot wave analysis we are completing the 3rd wave of this downtrend. Within the 3rd wave, we are completing wave 4, heading down to $7255. Following will be a bounce (correction wave) that will take us up to $8300 or so. The end of the line in Wave 5 will be $6700-6800. I hope I explained...