Yesterday, I had posted this chart with an ABC decline projection. It's almost there and for now, the cluster of support in the blue circle seems to be holding. I have updated the MACD which is likely to dip a bit more and then turn up. Price also probably has a little more dipping to do.
The longer term chart below was also posted yesterday and how much has changed? Pretty much none. The purple wave 2 is still in progress and the red ABC is trying to finish up. However, the correction is a bit too quick. Remember the "Hurry UP & Wait" syndrome because corrections are almost never very quick. So, the current ABC could be the subwaves of the actual higher degree of trend wave A and a B bounce is to come. What does one do during these kind of corrections? Nothing! Quite often, for traders, you become your worst enemy. You constantly feel like you have do something...do this, do that and do everything...until you have a pile of do do's. Patience and discipline go hand in hand.
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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?