GIFTO: Broadening Pattern

SUMMARY

GIFTO (GTO) is sitting on the bottom line of a broadening pattern as shown in below chart. Price has been sitting on the bottom trend line and seems making stronger attempts to take off towards the upper white trend line.

The Elliott Waves show five waves up and a subsequent abc that made a deep retrace to the bottom trend line. IF the correction is complete, then how could the initial rise look like?

Here are two wedge triangles. The one on the left broke out and made a higher high. The second wedge nearly retraced all and has started impulsing upwards as shown by the white Elliott Waves. Whether it goes to higher highs, that is expected but let's first idenify the initial round of impulse waves.

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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
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