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GOOGL Elliott Wave technical analysis [Video]

GOOGL Elliott Wave technical analysis

Mode: Impulsive.

Structure: Motive.

Position: Wave ii of (iii).

Direction: Upside into wave (iii).

This daily chart analysis reflects a bullish bias, indicating wave ii of (iii) is nearing completion with potential for acceleration into wave (iii). A nested structure from April lows supports continued upward action. An alternate scenario sees a completed flat correction forming wave {c} of B. Strong price momentum will confirm the bullish count.

Chart

Mode: Impulsive.

Structure: Motive.

Position: Wave ii of (iii).

Direction: Formation of wave iii.

Short-term structure shows wave ii potentially complete, with wave iii likely to extend higher. A confirmed breakout above Minor Group 2 will validate this view, indicating a fresh impulsive leg upward.

Chart

GOOGL Elliott Wave technical analysis [Video]

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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