My inaccurate labeling would've let to cutting short profits but I've accurately labelled the pivot high, without realizing it in my previous post. Elliott waves have been adjusted and it fits the criteria that I use.
Looking at the one minute chart below, we can see a clearly demarcated ABC (possible zagzag as I can't use a smaller timeframe) pattern. Using this information, we can postulate that we can most likely expect a Flat or Triangle (too soon to think about the more complex Double/Triple Three imo).
The possibility also exists that we've just finished waves 1-3 in an impulse wave down assuming that a triangle forms next, the possibility is very likely.
Anyway, my personal bias is for some sort of running flat to ultimately form. I'm excited to see how it plays out and how much I can refine my predictions.
Looking at the one minute chart below, we can see a clearly demarcated ABC (possible zagzag as I can't use a smaller timeframe) pattern. Using this information, we can postulate that we can most likely expect a Flat or Triangle (too soon to think about the more complex Double/Triple Three imo).
The possibility also exists that we've just finished waves 1-3 in an impulse wave down assuming that a triangle forms next, the possibility is very likely.
Anyway, my personal bias is for some sort of running flat to ultimately form. I'm excited to see how it plays out and how much I can refine my predictions.
Comment:
NB. Support on the GREY EMAs is needed to confirm the uptrend. Failure of it is a dump.
Comment:
30-minute RSI also shows massive hidden bearish divergence so this might be the beginning of the dump. Let's see where it can go.
30-minute RSI also shows massive hidden bearish divergence so this might be the beginning of the dump. Let's see where it can go.
Comment:
Resistance zone hit forming a flat. Impulsive leg down expected in the targeted areas with preferential bias towards the first one.
Resistance zone hit forming a flat. Impulsive leg down expected in the targeted areas with preferential bias towards the first one.
We've busted out of the triangle and found support and found successful support above the 144 and 169 EMAs indicating an uptrend. Given the erratic nature of the wave, doesn't seem very impulsive but just a very complex wave B in a corrective pattern. Outlined in the red channel above is the major resistance zone with Resistance Trend lines I expect to be pivotal in the next comedown or a breakout into the next bull wave.