SUMMARY
There were MANY who panic sold this healthy correction! There were MANY who were afraid because they simply were NOT aware of the probable price pathways. Technical analyis is nothing more than identifying as many possibilities, narrowing it down to a handful of probabilities and selecting the primary and alternates. This process allows one to become aware of as many price pathways and so is rarely surprised. Awareness keeps the panic and FOMO away! If you'd like to learn how this is done, please, you are very welcome to follow my blogs and study my free tutorials linked at the end of this blog.
I share my knowledge, experience and know how on Technical Analysis to ALL! It's available to all and with malice towards none!
Last night, I shared the below chart stating that since I can count ALL the subwaves of the A,B,C Flat correction, my confidence in being aware that the bottom of the wave C is either complete or near so was high.
This morning, we see that the a,b,c is complete and likely a turnaround has occurred as shown below. The five white impulse waves should soon be making orgasmic lunges upwards towards $23,743 or HIGHER!
Awareness is key to keeping the panic and FOMO at bay. Forward discernment of future price pathway is also key. The below chart shows an alternate scenario to keep an eye on; that being a Head & Shoulders pattern. I've labeled the Left Shoulder (LS), Head (H) and the Right Shoulder (RS) pattern. This is at borderline of possibility and probability but worth keeping an eye on. This level of awareness allows one to be prepared and know exactly what to do should this scenario play out.
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?
Follow me on Twitter for Real Time Alerts!!
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Legal Mumbo Jumbo: 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.**