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Tuesday, July 15, 2014

Elliott Wave Update ~ 15 July 2014

Its has been proposed that the market is in wave (iv) of [v] of 5. The price action of the past many sessions still supports that view. Note how wave (ii) of [v] was a very complex correction. So there is reason to suspect that (iv) of [v] will be simpler which so far appears to be the case.
Here is a 5 minute chart in an attempt to chart the subwaves. So far the correction has been somewhat simple as compared to wave (ii) in chart above.
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