ArtByte (ABY) Could be Ready to Breakout

SUMMARY

Here is ArtByte (ABY/USD). The impulse up was impressive and so has been the degree of deep retracement that followed. The symmetrical triangle pattern formation is also quite mature in time and form. Price is so close to the apex while price has been well confined within the contracting lines. What could be next? A breakout?

Look how the MACD confirms the pattern and price form. The yellow lines are near identical to the while contracting lines of the triangle! The subwaves show an ABC that has the final five waves of the C wave almost all in place except for white wave 5 which is just about, almost complete. Probability leans heavily towards a breakout.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--