With every story there are always two sides. Here I will present to you our current patterns.
Currently we are heading towards 6700. But what is bringing us there? Are we still in correction and are looking at heading further up to reach 7400, or are we already in our Bigger picture wave C with another month or more of downtrend to follow?
With this chart I have added 4 layers of EW to my chart for clarity of where we could be headed. This presents us currently in B wave of my big picture E wave from yesterdays chart.
The fuschia pink waves are more relevant to our short term , and it's possible that the pink C of yellow B is not yet complete. If this is the case we should have one more wave up which is where we should find our 7400 target before heading down for BIG wave C.
In the next couple of hours if we don't retrace back to 6926 on our way down to 6700 this should be enough to confirm the above chart. However if we dont, it is also possible we have finished the big wave B and are heading lower already xxx
Making charts to buy wine and pay for surfboard repairs. #nofinancialadvice