In this scenario we would be looking at this from a (WXYXZ pattern) point of view as we can say in this every part of the pattern had a (C wave divergence) to back it up. My zone for the (Z wave) would be from the common extensions of a (ABC wave) which is (1-1.618) but at 1.618 you question an impulsive. Also whats holding this scenario together is the Daily bear div for this potential (Z wave) or (C wave) which would then call for a correction.
Invalidation : C wave bear Div on daily invalidates from bulls
As always happy trading : )
Invalidation : C wave bear Div on daily invalidates from bulls
As always happy trading : )