SUMMARY
LEND is correcting but it's doing it to the tune of an a,b,c FLAT (3,3,5). After a vintage impulse wave of 1,2,3,4,5; the Flat correction was triggered. Elliott Waves states that after a five wave rise, there is a requisite a,b,c correction and this correction often retraces to prior wave 4 of a lesser degree. I've labeled the subwaves of the red C wave and likely, there is one more lower low probable. This means that a prime buy zone could be appraoching. The blue wave 5 of red wave C could signal the level from which the resumption of the original trend will occur. That original trend is UP!
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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