Rising wedge + flag pattern + Elliot wave count
According to my count, we just entered subwave 4 of wave 5.
Subwave 4 made a flat ABDCE pattern and it just broke out of it.
Fib extension of subwave 3 brings us to the .382 fib level with price around 8650, same as the end of the rising wedge.
I have drawn 2 poles for the flag.
Black one is measured from the point of breakout.
Blue one is measured from the bottom of the flag.
The black pole is ending on the end of the rising wedge and the .382 fib extension.
Please take a look on the starchart Ive made earlier.
Expecting ABC correction soon.
Top may be around 9k-9.2k
Subwave 4 made a flat ABDCE pattern and it just broke out of it.
Fib extension of subwave 3 brings us to the .382 fib level with price around 8650, same as the end of the rising wedge.
I have drawn 2 poles for the flag.
Black one is measured from the point of breakout.
Blue one is measured from the bottom of the flag.
The black pole is ending on the end of the rising wedge and the .382 fib extension.
Please take a look on the starchart Ive made earlier.
Expecting ABC correction soon.
Top may be around 9k-9.2k
Komen:
