We're seeing the Elliot Wave Principle being obeyed here.
1. Wave 2 did not retrace 100% of wave 1
2. Wave 3 is not the shortest of wave 1,3 & 4
3. Wave 4 retrace is not in the same price range with wave 1
Better keep an eye out on this one. looking for short position.
What we see here is a perfect set up using the Elliot Wave Principle. This pattern ticks all the rules;
1. Wave 2 retraced less than 100% of wave 1
2. Wave 3 is not the shortest wave of 1,3 & 5
3. Wave 4 did not retrace into the price territory of wave 1.
We simply need to wait for the corrective wave to complete wave C then we short all the way down.
Keep an eye...
