Aelf (ELF): Started with a Head & Shoulders

SUMMARY

The below chart was posted on March 13th showing a Head & Shoulders pattern that was about to breakdown the price. The C wave's five subwaves were marked to hit lower lows.

The ABC is now complete as shown by the ZigZag (5,3,5) sequence of the correction. Price then went lateral for a month and since then has started rising in an impulse fashion.

The overall pattern shows a large rounded pric formation (white arrow); price has started a five waves ascent where waves 1,2,3 are complete and 4 is finishing off with a small descending wedge. Wave 5 could and should provide a higher high than the wick move.

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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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