Short into Wolfe Wave - 3D/4H analysis

2020-01-24 06:50:44

Weekly shows an ABC corrective wave.
Weekly price action is also in a downward channel, with a possible Wolve wave.
the 5th wave of the Wolfe wave would find support in the channel and with a strong static support level established in 06'.

On the daily/4H we can see a completed 4th Elliot wave, a re-test of the resistance could result in a truncated 5th and with confirmation provide a good short from the top of the channel, into the 5th wave of the Wolfe Wave.