Elliot Wave 1...with extension (exhaustion peak)
A-B-C correction...
... beginning of next wave. Money Flow & RSI back on the increase in the beginning of Wave 1 to the second Elliot.
The ABC and top out of Wave-5 in prior Elliot had the RSI-&-Money-Flow diverging / losing steam.
https://www.elearnmarkets.com/school/units/basics-of-elliott-wave/rules-for-flat-correction
If we were to drop below those 90s in the correction period, you'd be worthwhile @Ichimokou listening to.
Because the announcement has kicked started Wave-1 I am going to disagree (with workings above) and I had personally expected this one to play out sideways a little longer before this earlier than expected announcement... However, (according to graph - RSI-Money Flow diverging) some people likely knew this was happening as these signals lifted during that last bit of the sideways action.
For the record, I was out in that Wave -4/5 section and expecting a drop further, but by mid-July the price action told a different story as it drifted no longer sideways.
We are in a second Elliot Wave.
If we are not, please @Ichimokou - let us all know.
Otherwise, you're a downramper crying wolfand I recommend to everyone...you ignore.
Cheers everyone, Go Australia! #Olympics
Go MSB! (Representative Australia on another world stage) - let's hope we score a perfect 10.
Elliot Wave 1...with extension (exhaustion peak)A-B-C...
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