Hello traders!
Behold the last remaining long term bullish elliott wave count!
It is possible by EW rules to have a bounce off of the bottom of the turqouise bear flag, and begin a VERY bullish Wave Three inside another Wave Three!!
This will be suspicious if we break through the bottom of the bear flag, but it will be altogether INVALIDATED if we drop below the start of the yellow 5 wave at 8514!
Also keep in mind that the blue sub sub sub wave (b) could be extended, as the red sub-sub-sub-sub abc could turn into a tiny 5 wave up. This would be a tiny move with a TERRIBLE risk reward to enter, so keep those shorts shorting!
Behold the last remaining long term bullish elliott wave count!
It is possible by EW rules to have a bounce off of the bottom of the turqouise bear flag, and begin a VERY bullish Wave Three inside another Wave Three!!
This will be suspicious if we break through the bottom of the bear flag, but it will be altogether INVALIDATED if we drop below the start of the yellow 5 wave at 8514!
Also keep in mind that the blue sub sub sub wave (b) could be extended, as the red sub-sub-sub-sub abc could turn into a tiny 5 wave up. This would be a tiny move with a TERRIBLE risk reward to enter, so keep those shorts shorting!