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Elliot impulse to complete at 135?

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Elliot impulse to complete at 135?


As we predicted in one of our scenarios below, the chart seems to complete an Elliot impulse (its first wave could be a non-standard impulse or a diagonal). #OPINIONLEADER#

Because this chart respects Gann Square and arcs, the fifth wave will likely land around 135. This also fulfills one of the standard extensions of the H &S downfall, i.e., FE2.000.

Possible next developments:
- Ascending triangle -forming corrective wave ABC before the next impulsive bearish movement. A bearish scenario in which the chart fails to extend more than FE 1.272 or so for I. H&S and turns around.
- 5-0 -to retest the daily high. If it rebounds at around 138, the chart can be construed as still bullish . This is less likely, considering the U.S. interest rate hike will cease.

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