SUMMARY
ARK has been patterning out the broadening pattern and putting in the bottom waves of a rounded price formation as shown in the below chart which was posted on March 26. The longer term support has held and price is straddling it for now. The Jaws of Wealth applies because the next likely step is for price make a B line towards the upper trend line.
Here is the current chart with updates. The MACD has started to breakout of the upper trend line of the symmetrical triangle and price is likely to follow. A surge in volume and price can be expected, especially if the impulse starts. The white five waves would actualize the Jaws of Wealth profit potential!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
