WAVES: Analysis Shows That Correction is Nearly Complete, If Not Already

SUMMARY

It's nothing new. The breach occurred and thus far remains decisive. The past is no guarantee of future performance, fractal impacts do linger.

A breakout is very likely and the purple Elliott Waves project an impulse rise for wave 5. This would be a 280% profit potential. Will this happen overnight?No, it'll happen in a five wave impulse.

To this end, I wanted to share some attributes of the September 2017 correction and how it could have some fractal influences to this current recovery. The horizontal blue lines show the presence of good support and the upper white trend line now also represents strong support.

When drawing chart patterns, I do take liberty in cutting out or ignoring some price wicks as you can see, the tallest wick is not considered for the pattern or Elliott Wave counting.

Legal Disclaimer: This post is for general information only. No information, forward looking statements, or estimations presented herein represent any final determination on investment performance. While the information presented in this post has been researched and is thought to be reasonable and accurate, I cannot and do not guarantee any rate of return or investment timeline based on the information presented herein.