Elliot Wave Rules:
Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1.
Postulate
Is it time for an ABC correction? Fibonacci seems to align quite well....
FBT ,I note a head test(red) of the previous inverted head and shoulders (green) these usually play out, ref 2008 crash on US index look for similar pattern but in a bull market eg. invert everything. Russel, SP etc had this formation in the bull market head and shoulders then a test of the head which failed and then cam the crash.
Here we have a head test on an...
This chart is weekly chart showing the overall massive pattern - the smaller patterns are still in play.
In my own opinion this major pattern still favours 38-49p as a target.
