SUMMARY
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This weekly chart of GlaxoSmithKline (GSK) shows that shareholders profited handsomely to the tune of 63,970% from 1980s to 1998 and had they understood Elliott Waves, would have taken MASSIVE profits at the or near wave 5. I believe Bitcoin will soon deliver the same degree of returns from today to the year 2025 or so.
Following the five wave run up; GSK had to correct for it was a requisite component of the fractal. For now, the pattern lines show a symmetrical triangle that is already quite mature. What could be expected as next?
The subwaves of the symmetrical triangle are in the 3,3,3,3,3 sequence. The white abc labels show that red A,B and C are likely complete. As long as the lower blue trend line holds against any decisive breach downwards; red wave D should be next and it too should be placed in an abc sequence.
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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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