I'm not mad keen on this idea because I just can't see decent waves (or rather, have difficulty counting waves in some cases) in the first impulse movement that we are in.
What I think I see here is an ending diagonal in the C wave of higher level 2 and then a leading diagonal in the 1 wave of higher level 3.
I just can't decide where we'll break down to if the wedge plays out. We could go to the 10800 ish support if we get above there to start with but that would be a very shallow retracement.
Thoughts?
What I think I see here is an ending diagonal in the C wave of higher level 2 and then a leading diagonal in the 1 wave of higher level 3.
I just can't decide where we'll break down to if the wedge plays out. We could go to the 10800 ish support if we get above there to start with but that would be a very shallow retracement.
Thoughts?
Comment:
Doesn't leading triangle look horrible. I'm actually counting possibly 9 waves to the top which means we likely have an extended wave in there somewhere (I think wave 3...which has just finished)
