I'm not an expert at Elliott Waves... (I'm still learning.) 😅 but I have a knack for seeing complex patterns as my day job is a creative professional. 🤓 (Trading is my side hustle.)
This appears to be a complex bearish correction at the top of a very nice rally up.
Everything in life expands and contracts. ☯️
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🚨 This is only a POSSIBILITY and not a probability. 🚨 Elliott Wave Theory is just a way to describe the emotional journey of price moving up and down in a dramatic structure. (This is similar to a three-act structure in a book or play, while the ending is yet to be determined as price unfolds...)
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🚨 Reminder: Don't try and catch a "falling knife"!!!
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Bounce at Weekly Support... but Bears 🐻 are waiting to get their teeth into you. 🗡️🗡️🗡️
Trade closed: target reached
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Setup was based on 15-minute time frame. More downside in my opinion, but there is a short-term bounce possibility.