hello and welcome to my idea.
So at this point I'm almost sure that this is a contracting triangle. We know that according to the Elliott’s theory, a contracting triangle always precede the last actionary wave.
For this reason, I. Expect. The last actionary wave has a new bear movement. The question is: Is the triangle finished or not? So, if we look at the preceding movement, I have two alternative visions about it. The first is that the last long movement before the triangle is the five wave. So the triangle starts is almost finished. The alternative vision is that the triangle yet incomplete. This second vision is more reliable than the first, i think, because the volumes are very low and after the wave E, the movement is usually very strong. Another thing is that in this second vision, the alternating waves of this triangle are 0.618 multiples of fibo, but in the first it is not exactly the same. We will see in the next days. We want to break the white (d) WAVE.
So at this point I'm almost sure that this is a contracting triangle. We know that according to the Elliott’s theory, a contracting triangle always precede the last actionary wave.
For this reason, I. Expect. The last actionary wave has a new bear movement. The question is: Is the triangle finished or not? So, if we look at the preceding movement, I have two alternative visions about it. The first is that the last long movement before the triangle is the five wave. So the triangle starts is almost finished. The alternative vision is that the triangle yet incomplete. This second vision is more reliable than the first, i think, because the volumes are very low and after the wave E, the movement is usually very strong. Another thing is that in this second vision, the alternating waves of this triangle are 0.618 multiples of fibo, but in the first it is not exactly the same. We will see in the next days. We want to break the white (d) WAVE.