Sorry Im not that familiar with the elliott wave. But shouldnt leg 3 be the longest ... in the chart it seems like 5 is the longest. Just trying to learn ... thank you
@neverfollowr, wave 3 is very often the longest.. the rules only say it "must not be the shortest"... so this elliot wave is valid... one thing is still in question though... @EXCAVO forsees an extended flat abc correction.. it still could just be a flat correction... OR... the extended flat is already over...
in my opinion in cases like these it strongly depends on the news... if there is something good coming up this could easily turn bullish... for now i'd say neither long nor short... just whatch...