SUMMARY
The prior ascending triangel pattern with a target of $373 attained only $355. I explain profit protection using trailing STOPs. The below chart is an updated combination of Elliott Waves and Chart Pattern. The blue circled numbers, 1,2,3,4,5 represent solid impulse motive which is followed by a requisite retracement. Elliott waves has three types of retracements; the zig zag otherwise known as the 5,3,5 and the flat, also known as 3,3,5. The third is a triangle and the below chart labels an a,b,c,d,e triangle. Wave e is not yet complete and this means a likely dip towards $291 or so. From there, prices should start impulsing up in five waves. These a,b,c,d,e triangle types have directional bias for up when the e wave ends at the bottom triangle line.
The long term perspective lies in the white numbered wave 1 and 2 because after waves 1 and 2...wave 3 is next. In this case wave 3 is UP which means higher highs are expected.
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