Just to mull over this chart a bit more after closing the trade.
The bounce arrived at the 1:0.618 extension from ATH with a small amount of overshoot.
Although difficult to see while in progress APE then printed a textbook elliott wave ABC correction where A and C are equidistant to form the very common 1:1 log based fibonacci ratio. Out of any ratio this is the most common for a 3 wave correction and it is interesting that this was the outcome considering the sub-waves were very exotic.
In the C wave one wedge fell into another wedge after the C wave topped.
Then as it approaches the trendline from the swing lows there are a couple of very limp SRP probes upward within in circle before collapsing through and the trend since then accelerating to the downside.
The bounce arrived at the 1:0.618 extension from ATH with a small amount of overshoot.
Although difficult to see while in progress APE then printed a textbook elliott wave ABC correction where A and C are equidistant to form the very common 1:1 log based fibonacci ratio. Out of any ratio this is the most common for a 3 wave correction and it is interesting that this was the outcome considering the sub-waves were very exotic.
In the C wave one wedge fell into another wedge after the C wave topped.
Then as it approaches the trendline from the swing lows there are a couple of very limp SRP probes upward within in circle before collapsing through and the trend since then accelerating to the downside.
Komen:
This worked well.
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