If the Nasdaq fails around the pink region then it's very possible that primary Wave 3 completed in late 2021. It would need a (c) wave down to compete an A wave in a possible Flat structure. A move up after it completes, could even reach higher highs than 2021 before it gets a devastating C wave down A move under $8500 would be a great buy.
It's possible that it's approaching a significant top, around $1200 level, in an E Wave. This would be inside a B Wave triangle. It could take it down to around the $400 level.
A possible ending diagonal forming, which if correct, would mean a very fast move down towards the beginning of the digonal and would signal a long term top. Also there's lots of divergence on the rsi. This would mean excellent news for Gold and Emerging markets investors.
It looks like a possible ending diagonal which is completing a final 5th wave. This would signal a multi year bull market in the pound.
Big test for Gold coming up. Will the parallel channel hold ? Will the 38.2% level of Wave 4 Hold?
If it cannot find support soon and make another wave up to complete primary 3, then it' possible that Wave 3 competed in May. If so a trip down to $5586 or $1225 levels would be the prices to watch out for in Wave 4.
With Wave 3 not being very extended in the relation to Wave 1, it leaves the door open to extension in Wave 5.
Using Elliott Waves thurst measurements on this triangle would give a target of around 90.
Looking for a C wave to start soon, and the stochastic is looking over sold on both daily and weekly time frames.
8 month sideways correction looking to complete soon.
Could be a E.D in a C wave, which would then re test the March lows.
A possible combination of ZIG ZAG followed by a FLAT pattern and it should be completing soon. The 5th wave of the C wave could be an ending diagonal pattern, if so the reversal could be very fast. The bearish alternative is that next bounce could be a B wave that retests the May high, then back down again in a C wave.
After the 5 waves up complete from the 2009 low what is next? Either a wave 2 or a C wave in a larger flat.
Strong Elliott Wave structures from 2003, looking to complete the final 5th wave in the next 12 to 18 months.
Possible Zig Zag looking to complete around the 50 to 60 region.