The Elliot Wave Count I'm presenting shows higher probability. I've spent hours counting fractals of sub waves of sub waves of larger waves.
Wave 4 correction of larger Wave C has completed. Some may argue that Wave 4 has breached Wave 1 territory. But the rule gives an exception, "Wave 4 never enters the price territory of Wave 1 (in highly leveraged markets you can allow a slight overlap)".
C has not even completed a 1:1 of Wave A which is why I doubt the 5 waves are in. For this count to stay valid 6550 needs to hold.
If we were to suppose that 5 waves are in then it would look like this
Wave 4 correction of larger Wave C has completed. Some may argue that Wave 4 has breached Wave 1 territory. But the rule gives an exception, "Wave 4 never enters the price territory of Wave 1 (in highly leveraged markets you can allow a slight overlap)".
C has not even completed a 1:1 of Wave A which is why I doubt the 5 waves are in. For this count to stay valid 6550 needs to hold.
If we were to suppose that 5 waves are in then it would look like this
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So far, so good.
I'm expecting a longer wave 5 though
I'm expecting a longer wave 5 though
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Wave 5 should be very profitable.