The gap open higher today filled a gap from the COVID crash earlier this year. The minimum waves can be counted in place to consider this retracement higher as terminated.
With such a count in hand, don't rush out to short. Let the market confirm to you that a top may be in. Wait for lower levels to break. If today's gap fills (tan box), it indicates a swing top is in. The question is whether that swing high is minor or major. Keep an eye on the upward sloping trend line too.
Anticipating a retest of the lows if/when this breaks down.
With such a count in hand, don't rush out to short. Let the market confirm to you that a top may be in. Wait for lower levels to break. If today's gap fills (tan box), it indicates a swing top is in. The question is whether that swing high is minor or major. Keep an eye on the upward sloping trend line too.
Anticipating a retest of the lows if/when this breaks down.
Test your Elliott Wave readiness.
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Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
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Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.