Wave 4 Might Have Started (alternative wave count)

This idea is valid ONLY if price breaks 70.66. If price doesn't break 70.66 and rebound, my preferred wave count is still this one:

Note

1. Price achieved the 61.8% projection instead of 100%.

2. Although price did not break 70.66, price did not close above 71.39 (top of wave 1) at Daily tf. That is a sign that the retracement toward 70.99 yesterday is not wave 4 as mentioned in my previous post. Therefore, I have revise my wave count. Wave 4 indeed had started.

3. I think we are in the subwaves abc of wave B going down for wave 4.

4. This Monday, subwave c of wave B should be concluded at one of the white fibo levels on the right. Higher probability target is at the 100% or 161.8%.

Note

1. It seems wave (B) topped around 141.4% fibo projection (white colour on the right), instead of at 161.8%.

2. If this wave count is correct, wave (C) (5 legs) should have started.

* I have an alternative wave count that I'm going to share soon.

Note

ALTERNATIVE WAVE COUNT 1

Note

ALTERNATIVE WAVE COUNT 2

Note

CORRECTION:
For Alternative Wave Count 2, after Z (in yellow circle), the plot shouldn't be (A)(B)(C) in turquoise colour. It should be impulsive 12345.

It all depends how high the price will go. Tomorrow we'll need to check the Daily and 4H candle also.

TheDemonTrader

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TheDemonTrader