This is an interesting option. However, I am not sure how valid it is because wave (2) is way out of proportion in price and time vs. wave (4). Here is an alternative count based on weekly charts: image

Elliott Wave Trading

Typically, those corrective patterns such as triangles or flats have a probability for a breakout to the upside of 60-65%. Today, it seems that we indeed got a breakout but then an intraday reversal (bearish hammer). Net, I see two options (and ...

Elliott Wave Trading

I fortunately have a few EW books at home, because the download links from Rober Balan do not work anymore. I just tried a couple of times and always got an error message.

Elliott Wave Trading

thank you very much. This is definitely a valid pattern, and both will likely lead to the same result: At least one more rally higher. But any weakness below 1,315 would likely invalidate those two patterns and would be bearish.

Elliott Wave Trading

When trying to keep it very simple, my analysis shows that we could be in a Elliott ABCDE triangle. All subwaves are also 3 waves and, although the triangle is not perfectly symmetric, it looks quite probable. If this is correct, we should see a ...

Elliott Wave Trading