SUMMARY
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Here is Expedia (EXPE) where the five wave sequence up had completed and price turned. It turned down very quickly and I'm sure many were surprised. However, this is just the start of a major correction to be had.
The MACD is oversold and the price is expected to have its B wave rally. This will reignite the bullish sentiment and many will likely think that it's all over and to the moon! However, the red C wave lingers and so be aware and cautious. The decline for C wave is usually the longest and scariest because it impulses downward. Would you be a seller or a buyer at this point?
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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