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Banco Santander (SAN) has spent 15 years patterning out the below downward pointing wedge formation! It probably has another two more years to complete it. What do the Elliott Waves show?
The sequence is red ABCDE and the subwaves also qualify this count. All but wave E remains to be placed and the subwaves of that one show that a decline could be seen to a new all time low potential. Again, here is yet another chart showing that an economic slump of some type could be approaching the world markets. The beauty of this chart is that it's offering a potential opportunity to cast buy ladders once and if the E wave completes. The breakout form this chart will be quite amazing as shown by the blue arrow.
The MACD is also running within a symmetrical pattern and teh final subwaves of E will allow the MACD to wiggle and squiggle closer to the apex. Its breakout should also be explosive.
There has to be some awareness that a D wave breakout could occur. However, given all so many charts pointing to a recession on the horizon....it's unlikely for a D wave breakout.
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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
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