Initially the 'Elliot wave absolute' indicator was projecting a retracement to the Fib.1 level as part of wave C.
It now looks like the retracement will go to 0.168 as wave C.
The buying pressure is resulting in a less dramatic downtrend.
Box indicates area to start accumulating and hoping for an upwards bounce.
It now looks like the retracement will go to 0.168 as wave C.
The buying pressure is resulting in a less dramatic downtrend.
Box indicates area to start accumulating and hoping for an upwards bounce.
Trade closed: target reached:
Although it didn't follow the Elliot wave C correction line exactly, it did hit the target (0.618) and bounce back as expected. Hopefully we can push on now and find a new ATH.
