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- Could se Zig-Zag pattern form or a Straight move to test previous top, but any how, I leave you with a picture of how to look at The Wave principle.
Plan your trade, trade your plan and trade Safe...
4th wave end. It could make a more complex structure, but if not the 5th wave Impulse could emerge.
Do your own Due Diligence. Goodluck!
I see this as an ABC correction.
The A wave appears to have formed and the B wave looks to be soon finishing.
BRK.A appears to have completed the 5 wave elliott wave structure and is showing signs of downward movement.
It seems to be creating a 5 wave structure downwards, which would be the A wave of the corrective cycle.
Wave 3 is currently in progress and I would anticipate some consolidation around the trend line to confirm the 3rd wave continuation to the negative fib ...
Near completion of B wave in ABC, expect downward movement soon for C wave.
Could it be double bottom if bullish enough??
Here i see an inverted H&S pattern with a impulsive 5 wave Elliott wave completing the head, and an ABC correction starting the right shoulder. I Believe this ABC will once completed, cause a wave 1 completing the right shoulder, wave 2 will be short lived with completion of the H&S pattern which will then be the wave 3 of the next 5 wave impulsive Elliott Pattern.
Hi Traders , This is my analysis on GBPUSD I am currently short of a TCP Pattern and see this going lower before breaking to the upside.
# possible runningflat
we'll see how it goes..
It can bounce from the 78% (and this is the fib level for a cypher completion point), already with RSI divergence, but i need to believe the price will respect the structure first, then the harmonic, that said, i am waiting a deeper abc correction close to the structure and also an RSI below the lower band at 20's ...
With a "BC" wave closing below the 38% after kissing the 50's, we can expect a strong bearish "CD wave".
My first "landing platform" at next fib retracement level, the 50% retracement (blue fib), confluence zone between 127% first wave (AB) extension (or external extension), and 161% second wave (BC) extension (or alternate extension) - This forges ...