i think i drew this right for the elliot waves. black arrow is doom to new lows. the minor abc correction in purple does not seem symmetrical and proportional. the a leg is so long compared to the b and c leg in purple. i will publish an alternate more immediately bear scenario
Comments
RomanoRnr
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Ict?
Tin.Foil
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If we come anywhere close to this, I'll be extremely happy. I might make $10. But really, 350 USD down to 130 USD is some amazing movement to short through. I was thinking we'd hit 160ish first, then bounce up to about 330 after. Honestly, I think we'll test bottom again at the 160-170 mark before we bounce up. Hopefully it's a double bottom showing strength rather than in your drawing showing we'll go right through it.
If we break 300 today or 250 by the 19th, we will have broken the year long downtrend and if we can manage to stay there for a month, we'll have started the new trend upward, probably slowly..
I need to learn me some Elliot wave.. so keep these charts coming.