Reviewing the priceaction of the last few days, I have had to make a small ajustment to my Ending Diagonal.
We are currently tracing out wave 5 of the Ending Diagonal. The maximum length possible of wave 5 is to 10,823.05 anything longer than that would make wave 3 the shortes, which is not allowed under the Wave Principle.
If wave A and C of Z is relating to each other a 61.8% relationship could be expected. If wave C relates to wave A x 61.8%, then wave C would end near 10,760.74 way below the maximum allowed at 10,823.05.
The chart below is a close-up of the Z wave in the Triple Zig-zag that began on March 6, 2009. A break below the red trend-line support would be first real sign that wave [B] is finished, while a break below wave 4 at 10,569 would adds confidense.
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