SUMMARY
This chart shows OAX cup and handle pattern should be complete. Deep as the retracement was, the pattern remains solid and classic. Wave 2 had coincided with the handle formation, hence, the deep retrace. The subwaves of the handle formation are labeled as abc (blue). Price has also breached the upper line of the wedge and the breach looks decisive.
Subwaves provide a very good quality control of Elliott Wave labels and also allows a good “geo” positioning when counting in real time. the subwaves of the final c wave shows a likely probability of the abc being complete. The breakout wavesare also added to show the probable pathway of the first set of a tend reversing impulse.
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