In the one hour chart I can see a very ugly looking elliot wave count of 1,2,3,4,5.
wave 2 is a very shallow retracement of only 38.2% hence wave 4 is a lot deeper.
I think we just completed wxy retracement. Now we're either heading up for wave 3.
Or maybe the whole thing is just an ABC correction, and we're heading towards C.
wave 2 is a very shallow retracement of only 38.2% hence wave 4 is a lot deeper.
I think we just completed wxy retracement. Now we're either heading up for wave 3.
Or maybe the whole thing is just an ABC correction, and we're heading towards C.
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If it is just an ABC correction, I'm expecting the C wave up to end at around 1220 to 1235. And then down from there to 1130ish.
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Sorry, if it is the start of wave 3 then we're going way above 1300.