SUMMARY
EOS is entrapped within a broadening pattern which I call the Jaws of Wealth if price is sitting on the bottom trend line and that is certainly the case. Price moves in a five wave abcde scenario within a broadening pattern. The blue waves show that abcd are already complete and the blue e wave is on deck. This makes it an exciting time for EOS as the potential next rise could be sizable.
A closeup shows that while d is complete, wave e is currently being started, if not already. This means that the lower support line MUST hold against any decisive breaching. Though a temporary piercing would be favorable as that would make it a bull wick. The initial onset of the rise could be in progress as the abc expanded flat is labeled with all five subwaves of the C compelte.
One potential pathway to the upper trend line could be depicted as shown below. The blue line shows a large three wavish incline towards a price level never before seen by EOS. Exciting times are ahead of us.
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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