So, I’ve updated my wave count to better align with what has happened, and discovered something I had missed in the process.
What I thought was wave E is probably better explained as a part of wave D, and the recent breakout was the final leg of wave D.
Wave D in a triangle often ends with a breakout attempt, and my anticipation in seeing it earlier but it not...
This is the first correction outside of the wave 2 contracting triangle, and is recreating it in miniature.
My bias is that this triangle fails and price retests the top of the primary triangle. A failed minor triangle will put the willies into traders that the primary triangle will also fail.
I will be standing by trying to assess each step, and although I...
Wave 2 correction has printed a symmetrical triangle, and has conformed quite tightly to it. I had been watching for this pattern from wave B top at $2.73, and wave C confirmed it. Wave d downtrend caught me slightly off guard, and wave d rally came slightly sooner then expected, but ultimately it’s what I have expected.
Wave e is likely to stay rangebound, with...
