We saw a break above the triangle resistance line yesterday and a break above resistance at 140.11, which indicates that the final thrust up is in motion.As can be seen on the hourly chart above that would count as wave i and ii and wave iii up to minimum 141.89 should be seen soon.
A break above 140.58 and more importantly 140.80 will confirm, that wave ii of 5 is under way.
Under no circumstances can a break below 138.61 be allowed, as that would cancel the rally for a new decline towards the 136.00 area.
Infinitus has done an excellente job pointing out the three alternativ counts that is possible at this point (see the link below.
http://singulorum001.blogspot.com/2010/11/this-is-my-leading-diagonal-count.html
Hello EWS,
ReplyDeletethank you :-)
I think, when we are in a thrust right now, it would fit best to count a series of smaller 1-2's.
If I try to count the whole upmove as a "1" I get on various timeframes trouble, for example a "3" that is the shortest wave, or a truncated "5", but anyway, we will see soon enough :-)
Have a nice day,
Markus