The TREE COUNT for Shorter Term Traders:
Here is the wedge count with the breakout and there is currenty an abc looking correction in progress. Five subwaves divide the C wave but should price go lower than C, the Elliott Waves would need to be modified.
The microwaves is carving out an abc and it looks nearly complete. IF wave 2 is already complete, we can expected onset of wave 3 which should drive price to a level higher than 1.
The Forest Count:
Wave 3 follows wave 2 and the below chart shows the subwaves of 1 of 3 and its completion would be higher than blue 1. In light of this higher degree of trend direction, HODL or buying the dips could be an attractive option.
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!!
--
--
