Got some good advice from other users here on TV and made some corrections to my chart, although my idea of the Elliot Wave forecast remains intact. I've extended the Fib levels to get a better forecast for Wave 3 and 5 and used the linear regression tool to more accurately show the uptrend channel.
Although my charting is novice, I still believe the markets to be bullish in the long term. Short term corrections and consolidations are necessary for long term gains. It appears that we are in a consolidation period with a bull flag on this first wave. It should break loose before Friday ends (here in the States).
Have a great Day!
Although my charting is novice, I still believe the markets to be bullish in the long term. Short term corrections and consolidations are necessary for long term gains. It appears that we are in a consolidation period with a bull flag on this first wave. It should break loose before Friday ends (here in the States).
Have a great Day!