SUMMARY
The below chart shows a prior update on the broadening pattern. The white abc was drawn to indicate a potential corrective price action. However, since the blue abcd were complete, it was also stated that the e wave was probable and cause price to reach towards the upper trend line.
The impulse waves are shown by which the $33 target can be tagged. The upward trajectory will all be composed of subwaves. The timing of late April to late May would be feasible IF the impulse subwaves of white 1 and 2 complete and there is a higher high where price climbes above the peak of 1.
The subwaves of wave 1 are drawn in blue. What's needed is a higher high at this level as well. IF blue wave 3 can be initated with the needed higher high; white wave 1 target could have to be raised. Again, higher highs in Elliott Waves are required for this bullish call.
Legal Disclaimer: 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?
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