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Nasdaq: Elliottwave Structure is calling more downside

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 5, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Short term Elliott Wave cycle suggests bounce to 5117.3 ended wave (X). Decline from this level is unfolding in 5 waves and another swing lower in wave ((v)) is possible to end wave A towards 4823 before a larger bounce in wave B is seen to correct the decline from 5117. Wave B bounce is expected to fail below 5117 for another move lower again in wave C at later stage. We don’t like buying the proposed wave B bounce.

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