Working on Elliot waves so correct me if wrong.
Looks like we are nearing an end to the w-wave phase and entering the "x" phase. If so I would like to see a retracement of 38-61% of the "x" at the most recent double top. The 4 hour is oversold but the daily isn't yet. Could have more room to drop but I want to scale in now for a long term hold.
What do you think?
Looks like we are nearing an end to the w-wave phase and entering the "x" phase. If so I would like to see a retracement of 38-61% of the "x" at the most recent double top. The 4 hour is oversold but the daily isn't yet. Could have more room to drop but I want to scale in now for a long term hold.
What do you think?