Hello and welcome, The above chart is weekly log chart. I labeled the chart using Elliot waves and noticed the breakout of triangle labeled(A-B-C-D-E) which was formed in Wave 4. What to expect in coming weeks: Elliot mentioned the wave after the breakout of triangle as thrust and such wave will be sharp and swift. Also triangle signifies the coming last wave...
As per my previous post, I have shown that 5 moves were complete. But this shows wxy is running. Thus, everything is determined by breakout of 4 of diagonal.
5 moves downside is complete, and 3 moves up can be expected. Targets are according to fib levels.
Seems like we can expect 5 moves up now. Even if it is a wave C, we can still expect 100% target.
As shown, we might have completed the correction (WXY in which Y is a triangle) and wave 5 is on the move. The confirmation level is B of the triangle(@31506.48). Let me know what you think of this.
Seems ABC is about to complete and 5 moves downside is about to come.