Here I'm going to show you this lower time frame EW count, showing you why I've been saying for the past week or so that I would like to see a break below 60k.
I'm gonna try to make it as simple as possible, as the chart is already too messy.
We are putting in a running flat, for a correction of a larger degree wave 2 (wave 1 being from 39.5k to 69k) after which we will be going for a wave 3 (same degree of wave 1 and 2 of course)
If we start the count from the high put in on the 20th of October, we have put in a 3 wave move to a low of 58.1k into a 3 wave move to the 69k high and we are now finishing the running flat with a 5 wave move.
I don't have any clear targets yet, but we have some confluence in the mid 50s with the outer bound of the pitchfork, and also the low 50s
Anyways, I'll update you on the support levels if we get there as always.
This count will be invalidated if we break back above 66k
Any questions?
Good luck traders
Remember not to break your rules
Habib
I'm gonna try to make it as simple as possible, as the chart is already too messy.
We are putting in a running flat, for a correction of a larger degree wave 2 (wave 1 being from 39.5k to 69k) after which we will be going for a wave 3 (same degree of wave 1 and 2 of course)
If we start the count from the high put in on the 20th of October, we have put in a 3 wave move to a low of 58.1k into a 3 wave move to the 69k high and we are now finishing the running flat with a 5 wave move.
I don't have any clear targets yet, but we have some confluence in the mid 50s with the outer bound of the pitchfork, and also the low 50s
Anyways, I'll update you on the support levels if we get there as always.
This count will be invalidated if we break back above 66k
Any questions?
Good luck traders
Remember not to break your rules
Habib
