A five wave impulse is followed by a corrective retracement and that becomes a fractal which repeates at all degree of trends all at the same time. That corrective scenario can be an abc zigzag, flat or a triangle. The fourth type is often called the complex combination. The chart below shows SALT/BTC still working hard on the handle portion of the overall Cup & Handle pattern. The blue abc could be marking the low for the correction; but similar to BTC, the upper white line needs to be breached decisively. Anything short of that would negate the correctional bottom being in.
The SALT/ETH pair has been placing an extended correction since October of 2017. Talk about a slow correction! The whole red wave b had been a complex wxyxz type as shown in the below chart. The curren c wave could pattern out a Cup & Handle but further evidence of an impulse oriented turn is required.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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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