The TREE COUNT for Shorter Term Traders:
The blue lines show an uncanny wedge pattern and this fractals well with the white wedge to the left. IF the price rise following the white wedge is any indication, then some exciting moments could be ahead as price is in close proximity to the apex. The only caveat is that the blue wedge is not being accompanied by declining volume. IF price breaks down below the lower blue line, then the white horizontal line as the Neck Line to a smaller H&S Top could take place. Price action ti'll tonight could provide the resolution.
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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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