Are we about to get absolutely rocked? (4hr Heiken)

Both patterns laid out would typically be continuation patterns. For that reason i'm not buying anything at the moment. Thinking I should wait until sentiment is absolutely at rock bottom before buying becomes attractive again (that recent bounce seems to have made everyone a little too hopeful for a v shaped recovery). In my Elliot wave setup, $0.033 would be a 0.618 retrace from the top of wave 3.

If either of these continuation patterns play out, I believe there is a solid chance we get that low. I'd love to hear your guys' thoughts.

Kommentera:

VET has broken out to the downside of the ascending triangle.