SUMMARY
This morning, I shared the below projection saying that the ABC (red) correction was the probable course. Price has now breached the lower blue line of the upward pointing wedge!
On a closeup; the ABC looks like a ZigZag (5,3,5). Note the subwaves of A (blue 1,2,3,4,5) and now the subwaves of red C looks to have started (yellow). I've laid out the yellow 1,2,3,4,5 down towards completing the red C wave for white wave 4. Pretty cool!
IF this is correct, then a sizable downward wedge could be seen through forward discerning:
What's my alternate? It's below. The ABCDE pattern of a triangle. Remember, awareness is key!
Education: Paul Tudor Jones was an Elliottician! He used Elliott Waves to amass $4.5 Billion! Here is a documentary made in 1989 or so. If you're old enough like myself, seeing the IBM compatible computers and hair styles and dot matrix printers are quite nostalgic! However, this documentary teaches you about fractals or analogs which PTJ used. Enjoy!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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