In our analysis, we identify a trending function characterized by impulsive mode and motive structure. Positioned in Wave (1) of Primary 3, our focus is on the upside movement into wave 3 of (1). We anticipate further upward momentum, aiming to surpass the highs of wave (X) to provide additional confirmation of the bullish trend.

KO Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {i} of 3.

Direction: Upside into wave 3.

Details: Looking for a break of wave {b} to have additional confirmation wave 2 if complete. We are seeing increasing volume on this move up from wave {c} bottom which confirms the bulls case.

KO Elliott Wave technical analysis – Four hour chart

Here, we also observe a trending function marked by impulsive mode and motive structure. Positioned in Wave {i} of 3, our attention is on the upside movement into wave 3. We anticipate a break of wave {b} to confirm the completion of wave 2. Notably, the increasing volume accompanying the upward movement from wave {c} bottom strengthens the bullish case.

KO Elliott Wave technical analysis [Video]

Author

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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