Wave c of 2 was a ending diagonal ending at 0.8154 and we have since the 0.8154 low seen two impulsive rallies. The first from 0.8154 to 0.8286 which I count as wave i of a new powerful impulsive wave 3 rally. Wave i was followed by Deep wave ii correction, which corrected 70.7% of wave i. Wave iii was an extended wave and became 1.618 times wave i at 0.8400 and we are currently in wave iv. As wave ii was a pretty simple and Deep wave I will expect that wave iv will be a some kind of flat correction or even a triangle. Therefore I have only counted the decline from 0.8400 to 0.8335 as wave a of iv. However, we have to be aware that it does fulfill all requirements of being a finished wave iv. The ideal target for wave v will be at 0.8481, where wave v is 61.8% of the distance traveled from the start of wave i (0.8154) to the top of wave iii (0.8400) added to the bottom of wave iv. As we do not yet have the bottom of wave iv in place I have placed the bottom at the 38.2% correction target of wave iii at 0.8319.
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