After a three-wave correction, we are waiting for a five-wave downward impulse. We see the development of the 3rd wave, the target is 6.5-6.7. When approaching the range of 7.0-6.7, be careful with opening short positions
How you knew it ? :P nice one, we expect bounce from here or the sentiment has changed?
Alex_Shamratov
⋅
@jucylucy, we just use the inherited wisdom of Mr. Elliot, Mr. Frost and Mr. Neely. Correction can continue up to 13-14.5, so we carefully look for entry points in the ranges of 9.5-10.5, if we go higher, then 12-13
Aviidy
⋅
Looks like your analysis is working out. Where do you see wave 3 ending? $6.5? What about wave 4?
Alex_Shamratov
⋅
@Aviidy, answer to your question about 3rd wave is in the text description. about 4th wave - "Correction can continue up to 13-14.5, so we carefully look for entry points in the ranges of 9.5-10.5, if we go higher, then 12-13"
bubbles52
⋅
Eliot wave only works in retrospect. It's too subjective when you're in the chatter.
Alex_Shamratov
⋅
@bubbles52, everyone has the right to a personal opinion, my task is to take profits right now