Elliot Waves Analysis for ASUR/B
Hello trader!
Today I present the technical analysis from the perspective of "Elliot Waves".
Although there are several ways to count, in all cases my perspective is bearish or at least wait for the station to provide more information that leads us to think bullish.
There is a yellow count with some numbers inside a circle where I think that if the price of the ASUR / B rises it is because it is a wave 2 of the same degree, however, it must be taken into account that this wave could have already ended because the price has already retraced a 50% Fibonacci, so it is possible that it will continue to go down. If this count is correct; the next wave is bearish 3, wave I assure you you don't want to be in. NOTE: The yellow numbers without the circle are an accounting in a smaller fractal.
On the other hand, from a less pessimistic perspective; We can be counting the numbers in white, and that we still need wave 5 of wave C to finish with the station's cycle correction. Anyway... as i said... I stay bearish (for the moment).
The colored squares represent the price zones where the current wave can end. However, with the daily analysis these price zones can be delimited.
Not much more to say. Thank you
Today I present the technical analysis from the perspective of "Elliot Waves".
Although there are several ways to count, in all cases my perspective is bearish or at least wait for the station to provide more information that leads us to think bullish.
There is a yellow count with some numbers inside a circle where I think that if the price of the ASUR / B rises it is because it is a wave 2 of the same degree, however, it must be taken into account that this wave could have already ended because the price has already retraced a 50% Fibonacci, so it is possible that it will continue to go down. If this count is correct; the next wave is bearish 3, wave I assure you you don't want to be in. NOTE: The yellow numbers without the circle are an accounting in a smaller fractal.
On the other hand, from a less pessimistic perspective; We can be counting the numbers in white, and that we still need wave 5 of wave C to finish with the station's cycle correction. Anyway... as i said... I stay bearish (for the moment).
The colored squares represent the price zones where the current wave can end. However, with the daily analysis these price zones can be delimited.
Not much more to say. Thank you
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