("Fun Wave analysis")- So as you can see I have 2 counts, one in "Green" and the other in "Red". So now for the "Green" scenario we would be counting this as a potential (WXYXZ pattern) and from the rejection of the (Green box) as we have made one of the last (ABC waves for that scenario) we would be retracing to around the "Golden zone". Now for the "RED" scenario we would be counting this as a (WXY pattern) and we would also be retracing here towards the "Golden zone" the only difference is that this pattern could make a minor pull down and pull back up for a triple three around the (.786 fibonacci) which by then I would have updated and the we would have our retrace.
As always happy trading and good luck out there as these are my opinions : )
As always happy trading and good luck out there as these are my opinions : )