Hi guys.. following up my previous post of a bullish and semi-bullish scenarios, here is the bearish scenario.
I know the WXY looks out of proportion, but the 1,23 Fib relation between the W and Y waves is astonishing, especially in such a long uptrend.
The X wave looks like a Flat correction and is "only" the 0,382 of wave W.. but it can happen.. I see many WXY non proportionate wave in other markets..
I hope this is not the case, but the fact that we bounced at the 0,618 Fib of the down move and that in this up move the potential Y wave is almost exactly 1,236 of potential wave W is very suspicious...
Lets see ....
Enjoy trading and remember: it's only money !!!
I know the WXY looks out of proportion, but the 1,23 Fib relation between the W and Y waves is astonishing, especially in such a long uptrend.
The X wave looks like a Flat correction and is "only" the 0,382 of wave W.. but it can happen.. I see many WXY non proportionate wave in other markets..
I hope this is not the case, but the fact that we bounced at the 0,618 Fib of the down move and that in this up move the potential Y wave is almost exactly 1,236 of potential wave W is very suspicious...
Lets see ....
Enjoy trading and remember: it's only money !!!
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The straight line doesn’t contemplate bounces which will be in the way, just the main direction is indicated
I love this TA tool !!! :)