Wednesday, March 15, 2017 12:45:31 AM
...and today, AVXL made that pullback....
reaching the 5.55 step,so far.
It doesn't look bad,so far, but neither is it a show of immediate follow thru. so the wave pattern looks like the 5.88 peak was a finished subwave 1 in the current pattern.(1 of 5 of 3 of 5) is what Elliott wave theory calls it.
subwave 2 is the pullback started today. subwave 3 should be a strong rally bounce to higher peaks above 6.30. The Fibonacci target zone is 7 dollars to finish the subwave 3 (6.30-7.00) in the current wave pattern developing now. wave 4 should hold sideways around 6.00-6.60. then subwave 5 should target the 8 dollar area. but....anything can happen ,depending on what the big money powers intend to do next.
reaching the 5.55 step,so far.
It doesn't look bad,so far, but neither is it a show of immediate follow thru. so the wave pattern looks like the 5.88 peak was a finished subwave 1 in the current pattern.(1 of 5 of 3 of 5) is what Elliott wave theory calls it.
subwave 2 is the pullback started today. subwave 3 should be a strong rally bounce to higher peaks above 6.30. The Fibonacci target zone is 7 dollars to finish the subwave 3 (6.30-7.00) in the current wave pattern developing now. wave 4 should hold sideways around 6.00-6.60. then subwave 5 should target the 8 dollar area. but....anything can happen ,depending on what the big money powers intend to do next.
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