SUMMARY
On March 26, the below chart was posted showing a sizable Cup & Handle pattern. The white circle highlighted how close price was to the apex of the downward wedge. Note how even the wicks were included into the Elliott Wave counts.
Since then, price, as projected, has broke out of the wedge pattern and impulsed in a five wave rally.
The interesting thing is that there is a smaller Cup & Handle pattern being repeated as a fractal (blue). The red impulse waves show that after five waves, the current decline is a minor correction for the handle formation. Once this is complete, price should resume the original trend...that being up!
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Elliott Wave Counting Tutorial #1
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