You can clearly see the first Elliot Wave that happened, with a classic ABCDE reversal which continued for a while. XVG moved sideways before testing the resistance at 0.786 Fib - it broke through the resistance (albeit not dramatically) which is showing me that we're entering a new Elliot Wave that won't be as dramatic as the first time around. To confirm this, I'm waiting for retracement down Wave 4 to follow up for Wave 5. If I see this happening, I'll be entering around the bottom of Wave 4 to ride up for Wave 5. Please share your thoughts on this.
Comment:
According to what I’m seeing right now, it’s looks like we’re in for a longer term (but more dramatic) wave. I mean dramatic in a good way, there has been constant support at key levels. I’m holding this one long now, also buying in again in steps, this is exciting.