My first attempt at identifying an Elliot Wave Pattern - I'm short and seeking contrary opinions to this to break me of confirmation bias.
I see an impulse (1-2-3-4-5) from the 6 month sell off into June that now is in a correction phase in a form of an A-B-C Zigzag. The Impulse confirmed the trend because the drop between 2 to 3 was longer than 1-2 and 4-5. 2 Did not pullback and breach 1, thus confirming the Impulse.
The A-B-C zigzag is also well formed, especially with parallel lines which strengthens the notion it is a correction (counter trend rally). I think Downside is to retest previous low (Jun17).
Thoughts? Thanks.
I see an impulse (1-2-3-4-5) from the 6 month sell off into June that now is in a correction phase in a form of an A-B-C Zigzag. The Impulse confirmed the trend because the drop between 2 to 3 was longer than 1-2 and 4-5. 2 Did not pullback and breach 1, thus confirming the Impulse.
The A-B-C zigzag is also well formed, especially with parallel lines which strengthens the notion it is a correction (counter trend rally). I think Downside is to retest previous low (Jun17).
Thoughts? Thanks.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.