A five wave primary Elliot wave cycle has ended. A primary ABC correction will now take place before another primary downtrend begins. After two bear cycles there will be consolidation and reversal. Bull trend will follow consolidation.
1.) We have a right angled broadening bottom in progress 2.) We have an Adam and Eve double bottom on 1 hour and 5 minute charts 3.) The market is at exhaustion as the price cannot go lower than the mornings dump 4.) The daily chart show that the 5 elliot wave has stopped exactly at Fibonacci extension 1.236 of the 4th wave