Most Elliot wave posts I follow say that now wave 4 has
overlapped wave 2, as shown in your chart. They have now
established the March low as a wave 5, and now heading up in an
ABC, or on a bullish biases, starting a wave 3 impulsive wave up
(lower probability option, but possible with Fed
Actions).
If we pull back to the Weekly Chart, The wave count seems
to be W-X-Y corrective to final (y)/4 flush. This is
all speculative But in play until it is validated by breaking
above the 61.8% retracement., Looks like a hammer from
last weeks candle and the Full Stoch has not even crossed up
yet. Caution.
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Most Elliot wave posts I
{Very short term} Bear market bounce buy in this Nasdaq ...
Posted by elliotw on 11th of Apr 2020 at 09:11 pm
Most Elliot wave posts I follow say that now wave 4 has overlapped wave 2, as shown in your chart. They have now established the March low as a wave 5, and now heading up in an ABC, or on a bullish biases, starting a wave 3 impulsive wave up (lower probability option, but possible with Fed Actions).
If we pull back to
Posted by ssaffer on 11th of Apr 2020 at 11:26 pm
If we pull back to the Weekly Chart, The wave count seems to be W-X-Y corrective to final (y)/4 flush. This is all speculative But in play until it is validated by breaking above the 61.8% retracement., Looks like a hammer from last weeks candle and the Full Stoch has not even crossed up yet. Caution.