The TREE COUNT for Shorter Term Traders:
The symmetrical abc is expected to be complete given the five distinct subwaves for wave C down. Price had also breached the upper blue line. The blue impulse waves is showing tha wave 1 could be complete while wave 2 is still in the works.
The correction has been labeled as an expanded flat where wave B is higher than the start of wave A. The three wavish nature of these two corrective waves is also completed by five impulse waves down. The key outlook is to determine if price action can reverse to the upside.
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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
