The latest rejection from resistance at 1.5752 indicates that we have seen a wave 4 triangle and that wave iii of 5 is developing.
Short term I'm looking for a break below 148.31 confirming the Development of wave iii of v lower. The target for this wave 5 is near 1.1618, where wave 5 will be 61.8% of the distance traveled from the top of wave 1 to the bottom of wave 3 subtracted from the top of wave 4 at 1.6381.
The latest Development in Cable doesn't agree with my former believe, that we developing a B-wave triangle, so I will be flexible and dismiss my former Count and go with the Count that has the highest probability and that is the Count presented above.
Hi again,
ReplyDeletewould yesterday's spike change your count somehow or are we still in a 3rd wave down?
thx,
HaiGo