Happy monday traders! Lets start this week out by taking a look at the bigger picture.
Left hand count: This count is the one where we do not assume the ending of this rally, but rather we identify small sub corrections in the larger scheme of things and just take the small rallies up. If this is to play out it will not retrace more than the 61.8% that i have labelled on the chart, if you see a clear corrective pattern later and it starts to rally well do not hesitate to join the fun!
Right hand count: The next perspective is trying to identify a possible end to this rally based of the given data we interpret through Elliott Wave. Coming off the most recent correction it was a 3 wave move upwards, so that leads to to believe this current move can be a sub wave 5 that is taking to a ending diagonal pattern. If this is the case we just finished wave 3 and will correct for sub 4. This is not my preferred, but again its just an idea that we have to look out for if the pattern starts playing out better than the bullish idea.
Hope you all are enjoying this series, lets make some $ this week!
Left hand count: This count is the one where we do not assume the ending of this rally, but rather we identify small sub corrections in the larger scheme of things and just take the small rallies up. If this is to play out it will not retrace more than the 61.8% that i have labelled on the chart, if you see a clear corrective pattern later and it starts to rally well do not hesitate to join the fun!
Right hand count: The next perspective is trying to identify a possible end to this rally based of the given data we interpret through Elliott Wave. Coming off the most recent correction it was a 3 wave move upwards, so that leads to to believe this current move can be a sub wave 5 that is taking to a ending diagonal pattern. If this is the case we just finished wave 3 and will correct for sub 4. This is not my preferred, but again its just an idea that we have to look out for if the pattern starts playing out better than the bullish idea.
Hope you all are enjoying this series, lets make some $ this week!