Elliot Wave Formation - FSL

15 בספט׳ 2020

The parallel trend channels typically mark the upper and lower boundaries of impulse waves, often with dramatic precision. Wave 1 and wave 3 are in sync with Elliott's rule which means formation of wave 5 is clear here. Wave 5 with uptrend and clear increase in its volume shows possible penetration into uptrend.

Possible up move will see around 78,in failure case the price may break the parallel channel below around 70 range.

Please support my ideas and share if you like. I will take my mistakes and improve, please feel free to point it out.

Thanks.