Recap : So although the contracting was invalidated an no trade was taken because its personality never showed.
We did meet our goal for the alternate count at (4460-4500)
Elliott wave = Useful , but not enough here Imo too much probability telling to the fact I could say this popped out
of a (Truncated Bearish Leading diagonal) or we just finished and are now
bullish off a (WXY Double ZZ pattern) just too many until we get to the white zone
Target : White zone
Other note : We have "Higher Time frame Bearish Divergence" Daily Time frame more noticeable
Confluence factors :
- We have the 20 MA on the Daily here
- We have 2 different Pitchfork medians 1 with substantial PA importance
- We have the VPOC from our major downtrend ( we can expect some pause since it will be an accumulation area)
- We have prior structure confirmed with Pivot points (Monthly - Weekly) meaning they have significance
- We have 2 different Algo Fibonacci "Golden Zone Targets"
- Yellow Box (Etc geometry)
Overall : So overall we can say we have pretty much have broken out of the "Box Structure" we were in.
We are also at the 200 Ma on the "Daily". So we are still bearish but
breaking the (X wave Pivot) would be a substantial break for bulls.
We did meet our goal for the alternate count at (4460-4500)
Elliott wave = Useful , but not enough here Imo too much probability telling to the fact I could say this popped out
of a (Truncated Bearish Leading diagonal) or we just finished and are now
bullish off a (WXY Double ZZ pattern) just too many until we get to the white zone
Target : White zone
Other note : We have "Higher Time frame Bearish Divergence" Daily Time frame more noticeable
Confluence factors :
- We have the 20 MA on the Daily here
- We have 2 different Pitchfork medians 1 with substantial PA importance
- We have the VPOC from our major downtrend ( we can expect some pause since it will be an accumulation area)
- We have prior structure confirmed with Pivot points (Monthly - Weekly) meaning they have significance
- We have 2 different Algo Fibonacci "Golden Zone Targets"
- Yellow Box (Etc geometry)
Overall : So overall we can say we have pretty much have broken out of the "Box Structure" we were in.
We are also at the 200 Ma on the "Daily". So we are still bearish but
breaking the (X wave Pivot) would be a substantial break for bulls.
Comment:
Mistake on my you CANNOT have a truncation from a leading diagonal i was rushing through again my mistake 🤙