For those students of Elliot, this (W) (X) (Y) overlapping sideways move clearly represents a correction of 1 where (W) is an expanded flat followed by the ziz-zag (X) then the triple zig-zag (Y) where A = C and a circle = c circle at 203.
Now, look all the way back to April where you can see that this current correction is ending in the immediate range of the previous fourth wave of the bull market ending diagonal....the waves indicate that the emotional attempts to reverse 1 down is ending. Therefore, 2, the correction of 1 is ending. 3 down is next and it should be 1.618 times the length of 1, at least...don't be surprised if it unfolds quickly to 2.618 times 1...err by holding short because 4 will not make it back to 180 and 5 will take the market south of the 3 ending point...then go neutral short term...
Now, look all the way back to April where you can see that this current correction is ending in the immediate range of the previous fourth wave of the bull market ending diagonal....the waves indicate that the emotional attempts to reverse 1 down is ending. Therefore, 2, the correction of 1 is ending. 3 down is next and it should be 1.618 times the length of 1, at least...don't be surprised if it unfolds quickly to 2.618 times 1...err by holding short because 4 will not make it back to 180 and 5 will take the market south of the 3 ending point...then go neutral short term...
Nota
Clearly called the termination of (Y) too early but we appear to be there now...Dagangan ditutup: hentian tercapai
FAIL...but still not supporting a long position here...I think this just gets us closer to the cliff...let's seePenerbitan berkaitan
Penafian
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Penerbitan berkaitan
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.