Hi everyone,
Correction wave is playing out and seems Wave A went deeper then expected since we broke out the triangle - you could say bear flag depending on how you look :)
After that retrace to previous resistance, that will be Wave B, It's to be seen how high it retraces but it shouldn't overtake Wave A.
After that an even deeper pull back towards 70 cent zone thus retesting the Weekly support zone before heading on the the bigger Wave 3.
Similar to most markets and they go up and down, nothing unusual!
Elliot Wave Theory is a theory so not all price points should be taken as a fact, but it does gives us a clear picture of what might happen.
Kind regards,
Noel
Correction wave is playing out and seems Wave A went deeper then expected since we broke out the triangle - you could say bear flag depending on how you look :)
After that retrace to previous resistance, that will be Wave B, It's to be seen how high it retraces but it shouldn't overtake Wave A.
After that an even deeper pull back towards 70 cent zone thus retesting the Weekly support zone before heading on the the bigger Wave 3.
Similar to most markets and they go up and down, nothing unusual!
Elliot Wave Theory is a theory so not all price points should be taken as a fact, but it does gives us a clear picture of what might happen.
Kind regards,
Noel
Commento:
Wave B in formation
Commento:
we might go as high as 1.40 -1.50 ( extended fib retracement)
