YourMajesty

YourMajesty

Just a quick analysis of GU. It seems to me that we have completed 5 waves and are currently in correction. I see three scenarios: 1. A complex B-wave where price heads up to complete a regular flat. 2. The B-wave will turn into some form of wedge before triggering the C-wave. 3. Or perhaps we are done correcting and the next impulse wave up is about to...

YourMajesty

Disclaimer: I don't post a lot of charts (this is my 2nd idea). I'm also hopeless at forecasting so please don't take this idea too seriously. Also, I'm not an Elliott wave expert - just like the way it looks. :D Thesis: the 1.29050 level looks to me like a line in the sand. Bulls have to protect this level to avoid the psychological effect of price breaking...

YourMajesty Updated 

I'm posting my first chart. My bet is a short rotation down to the area marked on the chart.