This is a simple Elliot Impulsive/ Correction Wave analysis of a hypothetical upcoming market recession based on the Dow Jones Industrial Average. The crash is modeled after the 2007 - 2009 Sub-prime mortgage crisis.
This projection is based on the assumption that the ABC correction wave will drop lower then the (2) impulsive mark by -12.85%. The A B points are ...
Pattern: 1D Channel Up. Attention needed as the pattern was previously violated by Brexit fundamentals.
Signal: Bullish as the price tested and held the 4H support (1.2706).
TP = 1.2875 as long as the support holds.