Elliott Wave Analysis

11 Oca 2022

Looks like overnight trading completed what looks to be a nice 5 wave Elliot wave impulse Wave 1 on the hourly. I have place fib retracement levels for possible correction. I don't think it will go very deep. I think there are trapped sellers from yesterdays move that the big boys don't want to give a chicken exit to.

Trade at your own risk.

11 Oca 2022

Not

Looking like a deep correction.

11 Oca 2022

Not

Price now at previous resistance. Unknown whether the move up continues as a Wave 3 impulse or it finishes as a B wave correction and will see a subsequent Wave C down for a flat correction.

11 Oca 2022

Not

Or alternatively, correction on an impulse wave down for more red