πŸ“Š Timeframe: 24-Hour Chart
πŸ“‰ Market: Crash 500 Index

Wave Structure Breakdown:

  • βœ… Price has completed a classic WXY corrective pattern from the top.

  • πŸ”» This was followed by a clean 5-wave decline in red β€” a well-defined Wave C.

  • πŸ“ The recent low perfectly aligns with the lower boundary of the descending channel β€” offering strong technical confluence for a possible bullish reversal.

What to Watch For:

  • πŸ”Ή Wave B (WXY) completed right at the channel top.

  • πŸ”Ή Wave C impulsively dropped and touched channel support.

  • πŸ”Ή A bullish confirmation from this level could trigger a new impulsive rally to the upside.

πŸ“ˆ This zone may mark the beginning of a larger-degree wave rally β€” stay alert for signs of momentum shifting!

More Insights

TOP
Elliott Wave Unite