EW Theory - Bullish trending
Descending (Top declining, bottom flat), bullish confirmation, impulse wave, followed by a three-wave-correction, before bullish trend resumes. Correction wave (C) may descend farther down but there appears to be strong support at the 0.618 ($200) range, potential down side to $164 range). Important next few days, tomorrow could be good buying opportunity if holds $200, if we descend past $200 could see a drop down. Could see bullish trend resume this week Wednesday or next.
- Fib ratio to watch for before completion of Cycle wave (III) 100% (418.61), 123.6% ($489.41), 161.%% ($604), 200% ($718.60).
- Fib ratio to watch for before the completion of WAVE ((III)), 161.8% (819.12) & 200% ($1001.49)
Short term: Bullish
Long term: Bullish
Was inspired by the Elliott wave guy and am still learning the theory.
Would love to hear any ideas, comments, suggestions.
Not financial advice. I am not a licensed professional. Just a guy with a thing for charts.
- Fib ratio to watch for before completion of Cycle wave (III) 100% (418.61), 123.6% ($489.41), 161.%% ($604), 200% ($718.60).
- Fib ratio to watch for before the completion of WAVE ((III)), 161.8% (819.12) & 200% ($1001.49)
Short term: Bullish
Long term: Bullish
Was inspired by the Elliott wave guy and am still learning the theory.
Would love to hear any ideas, comments, suggestions.
Not financial advice. I am not a licensed professional. Just a guy with a thing for charts.
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