SUMMARY
The wedge I had shown in this morning's update had price breakdown below the lower support line. Price has been rising and now is hitting against the belly side of the wedge pattern. Price can be repelled by the lower blue line and that is yet to be seen.
Closeup shows a serires of downward wedges and each resulted in a move higher that the prior peak. What's interesting is that these are all contained within the larger blue upward wedge. The current breakout is showing strength and the blue Elliott Waves show a projected price pathway towards $12,112. That would mark a higher high at a daily scale. More to come in tonight's evening update!
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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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