SUMMARY
EOS short term shows that a symmetrical triangle (blue) was formed as a likely corrective consolidation. Price has started to breach out of the upper blue trend line and IF this leads to a decisive breach, the an impulse motive would confirm the resumption of the uptrend (white).
On the bigger picture, it shows that waves 1,2 and 3 are likely complete and 4 could be also. Given that the MACD is showing a bit of oversold status; the onset of the sizable wave 5 could have potential.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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