Wish Elliott Wave Count

16 Okt 2021

As the chart currently stands, we have 5 impulsive waves to the bearish side POSSIBLY completed. 100% extension of 5 would come to $3.50, wave 5 by definition just needs to break the top of wave 3 to count, which it has. Momentum indicators tell us we are in a wave 5 overall hence bullish divergence on the RSI and Mac-d . My previous count had an expanded flat for wave 4 of 5, that broke as we have a clear 5 wave structure for wave 5. If wish is still bearish expect a retracement of 61.8% if this is wave 2 or most likely a 38.2% if this is a wave 4. If its forms a bullish structure look for waves to break above ATH.