I am a bit new to this. I am hoping you can explain to me what the difference between your (C) marker to the right and the (1) marker to the right is. Is this two different potentials for the future? If that is the case, is there any additional information which will help us determine which route will take place?
quinnthompson
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@LGND.markneedham, Good question. the "1" (1st elliot wave) would be the start of a new market cycle, where as the C would be the continuation of the end of the last market cycle. The light blue line running diagonal to the top right is/was the trend line. If the price would have crossed the trend line downward, the we could have expected the price to continue to fall to the "C". If the price would bounce off the trend line, we can expect that this could be the start of a new market cycle and continue upward toward the "1". In this case (as of today) it looks like it has begun a new market cycle.
quinnthompson
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BTW: for really great Technical Analysis, I recommend you to start following @Dalin_anderson . That's who I'm learning from.