The price action of today has eliminated the possibility for the wave 1-2 ; i-ii count.We have seen an Expanded Triangle as wave iv and wave v down to 136.70. the following rally back into the triangle has sealed the count, which is that wave 1 down is over. We should now see wave 2 correcting wave 1 and rally towards the 139.73 - 140.48 area. This area will be the ideal termination point for wave 2, but second waves can take back almost all of wave 1 without destroying the count.
Short term focus has now shifted from the downside to the upside. But this is a correction and the are harder to trade.
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