Four days ago, I had posted the below chart with the upward wedge pattern to keep an eye out for. Usually, wedge patterns are ending formations. The two blue parallel lines show that perhaps, IF price gets repelled, the bottom line could be next target.
The current chart shows that price did get repelled by the upper blue trend line. The reaction seems three wavish and as to how deep the retrace will be is the next big question.
The risk of price retracing down to the bottom blue line is there; but for now, the abc duo destination possibilities are more proximal.
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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?