Elliott Wave Theory describes markets as fractals.
"A fractal is a geometric shape that can be separated into parts, each of which is a reduced-scale version of the whole... ...that movements of a stock or currency all look alike when a market chart is enlarged or reduced so that is fits the same time and price scale. An observer then cannot tell which of the data concern prices that change from week to week, day to day or hour to hour..."
Take a look at this 30-min SSEC chart from today:
And now, the weekly SSEC chart:
Take your time to study the two charts. (Compare the boxed area in the first chart, with the second chart.) What do you see? Could we be looking at a similar rally? I will not be surprised, but please donot trade on that basis alone! Examine your reasons, formulate your own plan, and make your decision.
All the best!
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