If Blue Wave 1 happens to be a Weak 5-Wave move in it's entirety then it's possible this next move could be a third-of-a-third wave rather than another zig-zag.
The reason is because the internal subdivisions of Blue Wave 1 could itself be a weak 5-Wave move.
Also, the recent correction never really pulled back up that far there for negating the strength factor.
Price could be potentially about to continue much lower from current levels if prices maintain below 23,225.
Also, the corrections are getting shallower and shorter in duration which adds credence to this idea.
The trade parameters from the previous idea remains the same but the target may change.
The previous idea is linked below.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research[b/] instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
The reason is because the internal subdivisions of Blue Wave 1 could itself be a weak 5-Wave move.
Also, the recent correction never really pulled back up that far there for negating the strength factor.
Price could be potentially about to continue much lower from current levels if prices maintain below 23,225.
Also, the corrections are getting shallower and shorter in duration which adds credence to this idea.
The trade parameters from the previous idea remains the same but the target may change.
The previous idea is linked below.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research[b/] instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.