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ASX All Ordinary: Elliottwave Structure looking for more downside after bounce is complete

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 16, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Short term Elliott Wave cycle suggests rally to 5420 on 10/23 ended wave "x". From this level, Index has turned lower in wave (W) with the internal unfolding as a triple three structure where wave (W) ended at 5041, wave (X) ended at 5334, and wave (Y) is proposed to be over at 4963. Second wave (X) bounce is currently in progress and ideally reach 5148 - 5193 area before turning lower again. As far as 5420 pivot high remains intact during wave (X) bounce, expect sellers to come from around

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