📌 #Price has finally closed below 0.236 (or 23.6%), $6.7945 price level. Therefore, we can likely consider Wave i (in blue) complete (unless it validates the correction by breaking the high above $7.2150). Wave 1 is always the hardest to forecast anticipated completion zone.
📌 Like I previously mentioned, the #ElliottWave model is purely #subjective and needs to be consistently revised as price action continues to develop. This shouldn’t come as a surprise though; there’s no method of conducting technical analysis that doesn’t involve revision, editing, and trail and error.
📌 Of the ABC #Correction, both waves (a) and (b) have been completed (in red). Thus, we are currently working on wave (c); which should be comprised of another downward impulse of 5 waves.
📌 My goal is to #buy the market after 3 swings down in the #Minuette degree (in red; (a), (b), & (c). In previous posts, I mentioned that the buy zone is located directly under #liquidity and in the #fibonnacci #goldenzone.
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⚠️ This is not investment or financial advice; Anytime you enter the #markets, you fully accept the #implications at your own risk❗️