Hello, good day guys
I hope you have a good week.
Dow Jones Elliott Wave Principle Analysis
Starting at $36,954.30 is a five-wave pattern with a 3-3-3-3-3 structure that can also be considered a diagonal that I have labeled a triple zigzag that has been completed and motivation is over.
Question: Is the correction of the Dow Jones over?
The first possibility: a powerful bull market
The beginning price of $28588.20 impulse pattern (Wave 1 or A) in the bull market which was able to cross the price of $34233.73 and then the correction pattern which was zigzag that completed (Wave 2 or B) which is 50-61.8% of the first wave has revived!
Then another impulse pattern that may not be completed yet and then continue to climb strongly
It can progress up to the price of $36954.30 and even beyond wave 1 and then reach its highest price with a clear corrective pattern.
Second possibility:
The price advances to around $35,348.74 and then reaches the 50-61.8 range of the first wave once again to complete a sideways correction pattern and then we will see a strong market.
Good luck my friends!
buy = low
sell = high
I hope you have a good week.
Dow Jones Elliott Wave Principle Analysis
Starting at $36,954.30 is a five-wave pattern with a 3-3-3-3-3 structure that can also be considered a diagonal that I have labeled a triple zigzag that has been completed and motivation is over.
Question: Is the correction of the Dow Jones over?
The first possibility: a powerful bull market
The beginning price of $28588.20 impulse pattern (Wave 1 or A) in the bull market which was able to cross the price of $34233.73 and then the correction pattern which was zigzag that completed (Wave 2 or B) which is 50-61.8% of the first wave has revived!
Then another impulse pattern that may not be completed yet and then continue to climb strongly
It can progress up to the price of $36954.30 and even beyond wave 1 and then reach its highest price with a clear corrective pattern.
Second possibility:
The price advances to around $35,348.74 and then reaches the 50-61.8 range of the first wave once again to complete a sideways correction pattern and then we will see a strong market.
Good luck my friends!
buy = low
sell = high
