US30 is moving beautifully with Elliot Wave Theory so far this week. Here we see a correction after the W3 impulse then bottoming out to complete the W4 structure. Now we're starting to form a really nice sub wave within the last impulse wave on the higher time frame(W5). The sub wave (1) shot up then came down to create sub wave (2), which rejected the 61.8% fib level to the T. What we can expect now is another impulse wave upwards to simultaneously complete the Short Term Wave Count and the Longer Term Wave Count. A safe place to take profit would be the sub wave (3), which I've marked "35710".
Kommentar:
I also forgot to mention how well the ABC corrective wave formed. Right into the 61.8% fib level.