SUMMARY

The current price data for Cindicator (CND/BTC) can be used to trace out a wide rounded price formation as shown in below chart. Following the previous five wae impulse up, this correction has certainly taken the slow route. However, all corrections come to an end. The MACD might provide some clues to this timing as its symmetrical triangle pattern is about to breakout.

Given that the MACD is so close to the Apex; price is more than likely at or pat the midpoint of the rounded price formation. This means that with the MACD breakout, price should start putting in the start of five waves up and build the right wall of the formation. Do you think the MACD breakout is imminent from the way the pattern looks?

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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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