Elliott Wave Outlook

١ فبراير ٢٠١٧

Bullish Wave 5 is in progress
Buy the breakout of the pink line to the targets of wave 5 at Fibo level 0.618 or 1.0
The red box is a potential reversal zone of wave 5 to the down side

١ فبراير ٢٠١٧

ملاحظة

Price did not break above the pink line , so there is a possibility for an complex corrective structure being forming and I suggest it to be a Running Flat Corrective Structure , 3.3.5 internal structure, as shown in the chart below



Currently , the final bearish impulsive wave C of the running flat is being in progress , then the final bullish wave 5 is triggered to the 0.618 or 1.0 fibo levels

For a running flat structure , wave C should not break below wave A , if that happened , the running structure is invalidated and there maybe a possibility for a deeper down correction by an Irregular Flat

٣ فبراير ٢٠١٧

ملاحظة

Running Flat is in progress

٧ فبراير ٢٠١٧

ملاحظة

Bearish wave C of the Running Flat is Completed



Will it reverse up to form wave 5 ? we gonna see :)