EOS has traversed the A,B,C and now wave D within the broadening pattern has recently been completed. Each wave touched either the top or the bottom line and as it is currently bouncing from the bottom, the next wave is expected to be E. IF price is gunnig for the top line of the pattern, the target price could be as high as $28.
The initial impulse could look like below (blue). Wave 1 could be considered complete with 2 almost as well. Wave 3 would enable the higher high and should all five waves be placed, it would provide the onset towards the upper trend line.
Thus far, the price action looks a bit three waveish. This means that the current price action could be a corrective bounce. The distinction between an impulse and a corrective abc needs to be monitored to gain the resolution. My primary count is that EOS price heads towards the upper line of the broadening pattern.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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