Quick plot to study a small move with Fibs and Elliott Wave theory. As for the Outlook, that fact that we have a rhythm to this bounce is a good sign for bulls.
Wave 1's and Wave 3's often have two different Impulses (initial force). Wave 5's may or may start from a new Impulse, often they play 1 and 3's fibs. Each wave has likely "End Points" such as 4.236, 4.618, and 5.236 being common.
This is part my ongoing series to collect examples of my Methodology. .
Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water. every Pebble bears its own Ripples, gilded of Ratio Golden. every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity . each line Tried and Tested. each line Poised to Reflect.
every Asset Class behaves this way. every Time Frame displays its ripples. every Brain Chord rings these rhythms.
He who Understands will be Humble. He who Grasps will observe the Order. He who Ignores will behold only Chaos.
Ordered Chaos
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want to Learn a little More? can you Spend a few Moments? click the Links under Related.
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Ping we are not entering possible rejection zones, heads up!
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OOPS, meant to say we are NOW entering resistance zones ....
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Wave 5 DID have an Impulse (Gold) and it indicates possible end of wave 5, or one last bounce to higher high if it bounces like the Green Arrow
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regarding the wave 5 Impulse: Rejections at the Red arrows and bounce just now at the Green arrow confirms that impulse nicely.