ACB Analysis - One More Corrective Wave

  • ABC correction was thought to be completed, which would lead to the start of the next impulse wave
  • However we are now likely headed for further correction (i.e. form ABCDE correction) based on the current momentum
  • If we break 12.55 with strong conviction (i.e. significant volume ) then I do not see this as the impulse wave

For informational purposes only and not deemed as financial advice.
Comment: In regards to my last bullet point, the word "if" should be "unless".
Great work...please keep up with ACB. As much as I want it to go straight up from here and hope theres a flag at play, I think the next move is down as well. Hopefully just one more though like you say.
100 percent agree with that I hit the first break out 10.25 - 12.23 sold and expect it to cross 10.50 today, but somehow found support and rallied. also could be a bear trap :)
@derekh42, appreciate your feedback! I have been doing analysis offline for the most part and decided to post them up to see what others think. I think part of the reason it jumped a bit late in the day was due to the bounce on the Dow Jones Index (DJI)..however the volume for that bounce was not significant.. I don't believe the DJI is done correcting yet either, I was thinking it would hit within 23250-22250 range (i.e. at the .382 - 0.5 fib level) Let's continue to monitor to see how this plays out. Cheers!
derekh42 modernpicasso
@modernpicasso, actually that is why there was a huge bounce I wish I knew how to send you a to DJI but the low from Feb 11 2016 draw a trend line to the bottom of the candle wick. its a perfect computer traded correction. DJI should consolidate around 25,000 until august and then should fall out of the symmetrical triangle. my opinion and prediction. You never know! happy trading!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out