What we see here is a corrective 5th wave. This is possible on the basis of the updated rules. The minimum target for the following correction is the 38.2 RT of the hole upward impuls.
Maybe the red (2) is already finished but it's also possible that there is a Y wave to the downside is missing.
Alibaba is forming an ending diagonal in 5 waves, in a minor degree subdivided in 3 waves. There is also a good CRV now for an entry to going long with a target at 370.
We see here the Dax since the 1970's. At the beginnig we have a clear 5 wave impulsiv structure. At the beginning of the new Millenium this structure change to a corrective one. But at this time I could count it also as an impuls. The clearest indication for a corrective structe is the Wave from 09/2011 to 05/2014. I do my best to count this wave as an impuls but...
Hi guys, we're expecting a huge fall on DXY to begin, invalidation points are known for EWA traders so good luck!
This is not trading advise. Do your own research. I just like to draw lines and color. Watch for BTC moves to negate any bullish upside. First impulse had an extended 5th wave. Quite common in new assets of this caliber. It retraced back to the top of wave 2 which is classic text book Elliot Wave Theory. Reversed Directly on the .786 Pumped the .5 and...
Hey guys on my previous idea about gold i thought its forming a triangle and it might drop further but the sequence looks complete on both USD index and Gold. I expect a strong bullish push on gold the following weeks to finish the Intermediate B corrective wave. Cheers!