Overnight price action is showing that the downward action could be near complete, if not already. Price should start reversing up and if it reaches the white horizontal Neckline; it would be ideal for the Right Shoulder (RS) completiong.
The downward wedge looks complete but not yet confirmed. Price has already started turning and the breach of the upper blue line would confirm the wedge pattern. Often, wedge breakouts exceed its starting points.
From a fractal perspective, here is a chart you haven't seen in a week. The yellow boxes show a potential comparable positioning of each.
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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
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