The larger count is looking for 5 waves lower in wave C off the major high near 200.
An equality move in the wave C points to sub par, which would require some serious market moves, though there's an internal potential that targets around 136-134 that's a little more in mind presently.
On the shorter-term basis, price has some decisions to make in whether the wave 2 is complete or looking for an equality move toward 152.60 prior to the wave 3 lower. 146-145.50 are the levels to break imo to open it up, with the 147.50-148 the stumbling blocks above as we head into midterms.
An equality move in the wave C points to sub par, which would require some serious market moves, though there's an internal potential that targets around 136-134 that's a little more in mind presently.
On the shorter-term basis, price has some decisions to make in whether the wave 2 is complete or looking for an equality move toward 152.60 prior to the wave 3 lower. 146-145.50 are the levels to break imo to open it up, with the 147.50-148 the stumbling blocks above as we head into midterms.
Note
Ooops...c of ii of C of 2....not the b as typedNote
Little spike up to 145.50 makes for a good wave E of triangle wave iv of c of B...targets down into the 142.53 areaNote
zooming in a little for the internals on wave c of B...which looks for a final low for a cleanly completed 5 waves in c. This is where structure fights market makers as modern markets like to play with completion of wave 5's in OTC such as Forex. In any case, the structure is there and is looking for the turn in this week or so.Note
The direct move to complete wave v failed and in reworking the internals, as long as the 144-144.50 zone holds, I have this as wave iv of c of B completing soon with the final wave v leg lower to complete wave c of B over this next few days to a week for an approximation. Over 144.50 busts through the previous lower degree wave iv structure and suggests wave C of 2 is underway higher already.Disclaimer
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.