I am very new to TA. Any information should be for educational use only.
This is an update to an idea I posted last night. I have adjusted the a-b-c wave. The (a) is now extended lower. I have also adjusted the angles of the of rays a-b and b-c. I have also drawn in what could be the forming of a head and shoulders.
It looks like currently we are fighting between the 200 EMA in black and the 10 EMA in pink. Hopefully we keep the 200 as support and break through the 10. I would like to see a break above the 10 EMA and to turn it into support. Really only time will tell how this will play out.
I am hoping to get some feed back on the Elliot wave. Can anyone confirm that the the waves are drawn in such a way that they could be valid? I am a little confused on the exact rules that the a-b-c waves should follow.
This is an update to an idea I posted last night. I have adjusted the a-b-c wave. The (a) is now extended lower. I have also adjusted the angles of the of rays a-b and b-c. I have also drawn in what could be the forming of a head and shoulders.
It looks like currently we are fighting between the 200 EMA in black and the 10 EMA in pink. Hopefully we keep the 200 as support and break through the 10. I would like to see a break above the 10 EMA and to turn it into support. Really only time will tell how this will play out.
I am hoping to get some feed back on the Elliot wave. Can anyone confirm that the the waves are drawn in such a way that they could be valid? I am a little confused on the exact rules that the a-b-c waves should follow.
