In the previous week's update, I highlighted enough certainty to go long because of the ending diagonal (C) of in the chart below.
We spent the entire week creating the opening move, which I've labelled wave A or (1) below. There is no preferred structure at this moment, and the complexity of the scenarios should remain on the chart. However, I can somewhat discount the larger running triangle labelled in black circles ABCDE. Given that wave is a clear (W)(X)(Y), and wave is nearly 2x of , the running triangle is less likely but not ruled out.
We spent the entire week creating the opening move, which I've labelled wave A or (1) below. There is no preferred structure at this moment, and the complexity of the scenarios should remain on the chart. However, I can somewhat discount the larger running triangle labelled in black circles ABCDE. Given that wave is a clear (W)(X)(Y), and wave is nearly 2x of , the running triangle is less likely but not ruled out.
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🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts
