SUMMARY
The Fractals are still in play. Earlier in the day, I had posted the below showing that the abc could end with five subwaves for wave C. The white waves 1,2,3,4 were nearly complete with 5 to go.
Current price shows that wave 5 completed and a bounce is now in progress. IF the fractal holds, then the white line price pathway could provide potential guidance.
I'm still keen on the Inverted Head & Shoulders. Take a look at the intersection point between the larger upper, purple trend line and the blue Neck Line. That point was precisely where price had been repelled. The freehand drawn white line shows the potential attempt to complete what should be the Right Shoulder (RS). This would complete the pattern and so confirmation would remain which would be price breaching the Neck Line. Let's see how the overnigh price action takes this pattern.
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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
