A small range Doji candlestick for Monday sees both Elliott wave counts remain the same.
Price is now range bound. Two Elliott wave counts are used to map out possible movement and targets after a breakout in either direction.
Two main Elliott wave counts are published today. Confidence and invalidation points will be used to indicate which is correct.
The very short-term expectation at the hourly chart level was for some sideways movement. A slight lower low and lower high overall fits the expectation.
More upwards movement was expected. The last daily candlestick makes a higher high and a higher low, which fits this expectation.
A strong upwards day with support from volume sees price break out of the channel on the daily chart. This necessitates a change in the Elliott wave count.
A small range upwards week remains within the channel and below the invalidation point. The Elliott wave counts remain the same, and all expect the same direction next week.