ARK = Jaws of Wealth

SUMMARY

ARK has been patterning out the broadening pattern and putting in the bottom waves of a rounded price formation as shown in the below chart which was posted on March 26. The longer term support has held and price is straddling it for now. The Jaws of Wealth applies because the next likely step is for price make a B line towards the upper trend line.

Here is the current chart with updates. The MACD has started to breakout of the upper trend line of the symmetrical triangle and price is likely to follow. A surge in volume and price can be expected, especially if the impulse starts. The white five waves would actualize the Jaws of Wealth profit potential!

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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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