Here we have the 2D chart for US30. We have the impulse starting Mid March in 2020, which recently ended in January 2022.
The Elliott Wave breakdown is as follows: Wave 1 - is made up of 5 subwaves (impulse) Wave 2 - Is a corrective wave made up of 3 waves (correction) Wave 3 - is another impulse wave made up of 5 subwaves (impulse) Wave 4 - is a corrective wave made up of 3 waves (correction) Wave 5 - Can be either an impulse or a correction - But its made up of 5 waves
We can see that the impulsive wave has completed all of these phases and now we are in the corrective wave, which is an ABC corrective wave. We are now on the final C wave, which is broken down into 5 subwaves. We could be seeing subwave 4 forming and about to see the final 5th subwave down.
We are looking to buy US30 once there's another drop. Once the drop happens, we can assume the corrective period is over and we can ready ourselves ready to buy US30.
What do you guys think of this Elliott Wave Breakdown? Have we missed anything? If so, we'd love to hear!