As predicted AXS went up. Those who bought on our signal got paid nicely. Now it is time for wave C.
Shown on the chart is a green box which is very significant because according to the rules of Elliot Wave, price MUST retrace at a minimum to the top of the box and also is not likely to retrace any beyond the bottom of the green box. Because of this reasons we will buy starting at 3.13 down to as low as 2.73 with gradually increasing sizes. If you are interested why this is, you can leave a comment and we will be sure to respond to you. We have also placed a red arrow on the chart. This is the measured move of wave A which notable also has confluence with the support levels.
As always, manage risk properly and do your own diligence!
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We will not go short until a sufficient reversal pattern is given. Stand by for signals.
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There was a listing but that doesn't really change the idea much. As you can see, still clearly a 3 wave advance. We are watching this shooting star reversal pattern closely for a 4 hour close below to enter short. This is now clearly identified with a good degree of certainty as an expanded flat correction.
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Here is an outlook on the short entry.
Be patient. Get paid.
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The subwaves have changed some so we will take profit on the short in a couple days and look to enter a long position at the shown price.
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Price will rise a bit but what happens directly after is highly important for where we will go next. If it can be a running flat, price just goes up and up and up. Otherwise, we may yet see this original idea come to play out.