my SHORT idea is based on the count, and classic chart analysis. Major facts that support my idea are:
- The price formerly formed and broke out of a beautiful ending triagonal, indicating the end of the impulsive 1-2-3-4-5 up move and the start of the a-b-c correction.
- The price dropped initially forming the A of the correctional a-b-c
- The price recovered and corrected back into the 50% / 61.8% Fibonacci levels, which would traditionally be seen as strong reversal levels
Taking all these very convincing facts into account I am confident to believe that wave b is soon coming to an end, starting the last and most powerful downward wave c.
A potential target can be determined as soon as wave b is complete and wave c has started (to be posted in the updates).
Well done and congratulations if you made some money with my idea.