After the succesfull ABC retraction wave we are in a new full elliott wave cycle.
Just had bumps 1 and 2 and we are in wave 3 now.
If wave 3 ends here we could see some chop as we battle out the remaining longs in the volume profile.
This battle would make a inverted head and shoulders pattern that makes the continuation of uptrend possible.
Also the Russian...
This could be the wrong way to use these tools. This is my first opportunity to put them to use. Feedback is welcomed. Two Volume Profiles at work. One Fixed Range from October 16,2014 through December 7, 2014. I then drew a Fib on the 70% Value Area to determine the 50% Fib balance point. Dark blue line from far left of screen is the Fixed Range POC. Sky...