(Update) AG showing Triangle Pattern, breakout incoming?

6 thg 4, 2021

Hi. In this 4h chart I've plotted a prediction of the Elliott wave pattern that could emerge as the price has now broken through the diagonal resistance line.

I believe that the previous downturn when the price moved to the peak of the triangle was a correction wave and the current movement is the following impulse wave and that the price is currently in the first correction and that the biggest line of the wave is coming next.

See the link to the previous idea below if you want to know more.

Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you.

This does not constitute financial advice.
Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations.
Any trades shown or mentioned are examples and neither recommendations or mandates.

12 thg 4, 2021

Ghi chú

Well my estimates of the size of the Elliott wave were clearly off so I believe we are actually still in the first wave of the Impulse wave and that the rest of the wave will be quite a bit more sizeable than I expected and that the large second wave after the first correction is still incoming.