Paulina asked me to update this cross.
Well it hasn't been easy to spot what's going on here. Looking at the bigger Picture I'm looking for wave E to end the major triangle which has been developing since mid-2009.
I expect wave D of the triangle ended at 1.6604 and we have seen wave a and b of wave E.
As can be seen wave b has raised beyond the stating point of wave a, which tells us, that an expanded flat correction is developing. Wave b of the expanded flat should be over with the test of 1.6668, but a break below support at 1.6605 to confirm the top. Once the top is confirmed we should be looking for wave c lower towards 1.6232.
That said, we have to be aware that the top of wave B comes in at 1.6746 and a break above here indicates that the B-wave triangle already is finished and wave C higher towards at least 1.8414 and likely even higher towards 1.9462.
No comments:
Post a Comment