We broke down the previous count, invalidating the expected 5th wave start. The ABC pattern is still in play though!
When shifting the trends around it looks like we have a bit more on the downside before the bulls can come back. With this count, I would expect a bottom formation between 1575 (fib 61.8) and 1600 (1592 at c=a). Note that the possibility for a flat...
In the last week there have been very large movements on the world indices. It seems the larger waves are coming in more quickly than expected.
Currently looking for a flat ABC and hop to trade the C wave.
After C is complete and does not break 1700 we should be good to go another 15-20% to reach C5.
Short timeframe
Looking to complete ABC pullback for larger wave 4 that should stay above ~1700. If the C does not gap down it should be tradable.
Intermediate timeframe
After larger wave 4 is completed I'm preparing to be bullish and look to build aggressive long positions.
Longer timeframe
After C5 is completed, a larger pullback is expected. Planning to move...
