SUMMARY
IF WAVES completed its correction after a single downdraft; it'll be considered to quick. Waves does not have enought network effect maturity to run through an accelerated correction. Even if price decisively breached the blue resistance line, it is most likely to succumb to additional sideways action. You can the action from circled white wave 1 to 2 as a potential fractal of the upcoming sideways price action.
For now, the blue wxy is temporarily marked with likely change to the wxyxz where z could become a triangle or a channel that would allow the needed time extension to this correction. A breach of the blue resistance line will likely be in the form of a three wave countertrend which is good for swing trading but not for expectation of quick arrival of blue skies. The correction likely has a bit more to go.
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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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