I have been doing Elliott Wave for years and on rare occasions a triangle can nest inside another triangle to form a large descending triangle that has 9 hits to the trend lines.
Historically, in this type of pattern when the price reaches the apex of trend line X and Y expect the market to turn. So, if this is happening, the breakout should happen within the next week or so and would have a great objective marked with arrows.
I am a buyer on a break of trend line X, which is around $7000. Otherwise, I wait.
Thoughts?
Historically, in this type of pattern when the price reaches the apex of trend line X and Y expect the market to turn. So, if this is happening, the breakout should happen within the next week or so and would have a great objective marked with arrows.
I am a buyer on a break of trend line X, which is around $7000. Otherwise, I wait.
Thoughts?