Aragon (ANT): No Ant Hill Profits

SUMMARY

Aragon (ANT/USD) placed five Elliott Waves to make an impulse and an Expanded Flat was placed as the requisite correction. Elliott Waves states that after five waves, there is a requisite retracement. This is the fractal (five waves + Correction (ZigZag, Flat, Triangle, Combination)) that repeats again and again at all degree of trends and time all at the same time. The subwavse of the ABC (red) are labeled showing that wave A had only three subwaves and so was identified as a Flat. The B wave was also higher that the start of A; this categorized it as an Expanded flat. Please consider reviewing the turotiral Video #2 linked at the bottom of this blog to learn more about the Elliott Wave corrective waves.

A higher resolution chart shows the details of the subwaves. The blue impulse waves show that the trend reversal could be in progress as an impulse usually is the earliest signal of such reversals. Primary count shows that the minor abc is complete and the next round of impulse is in progress (white 1,2,3,4,5). IF so, then any price high higher than blue 5 would signal a potential bottom is in.

The alternate shows that perhaps the abc correction following the blue 1,2,3,4,5 impulse might not yet be complete. This would mean that the red minor abc waves are subwaves of the higher degree white wave A. Let's see if the overnight pric action provides the needed higher high in price!

Legal Disclaimer: 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?

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