At first glance wave i down from 134.36 wasn't very convincing. There was a clear overlap between wave (i) and (iv), which is not allow expect for one count and that is if an Leading Diagonal accounts for wave i. Looking at the micro count (see below) we could make the case, that an Expanding Leading Diagonal made it up for wave i down, but if this is the case, we should see an very impulsive decline in wave iii down.If the nex decline becomes a weak decline too, the alternate A-B-C count gathers strengh and should be taken seriouse. If the A-B-C count is the right one, then we will not see a break below 129.64 again any time soon. A break above 133.95 will be the first signal that the A-B-C alternate count has preferrence.
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