price is moving close to the lower channel line, maybe it near the completion of pink wave 3
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wave 3 nearly done?
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preferred micro count in blue, alternative count in white
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no change on overall structure
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I guess the next key level to watch is 89.62
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could be another new low to complete pink wave 5
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wave {5} of 5 at its later stage or has already bottomed
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micro count
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possible micro count
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re-test the end of wave 4 at 95.15 ?
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the short-term pattern does not support immediate bullish outlook bullish wave 2 could be unfolded as an expanded flat A decisive push above the recent high of 90.93 would suggest wave 3 is under way
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it's possible that bluish wave 2 bottomed at 89.41
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short-term bullish count
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we could assume i-ii & lower degree i-ii for the upside but wave (iv) could also be unfolded as a 3-3-5 flat
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break below 93.12 ( the end of black wave ii) would favor the pink a-b-c flat scenario
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immediate push above 93.73 would suggest the decline is in 3 wave then we may say this decline could be just a lower degree correction
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possible corrective structure for blue wave iv circle red zigzag (a)-(b)-(c) or pink double zigzag (w)-(x)-(y) or complex (b) or (x) wave (e.g. flat) of a zigzag, etc ...
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also a 3-3-5 flat to form the blue wave {iv} is still possible
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immediate break above 95.53 would eliminate triangle scenario
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short-term alt count in grey
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we could have a red ending diagonal for wave {v} or a green triangle for wave {iv} or a grey flat for wave (ii) of {v}
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double zigzag (w)-(x)-(y) to complete wave {b} is still possible, but unlikely to happen
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If we label (w)-(x) as (i)-(ii) of wave {iii}, the end of wave (x) could be viewed as a critical support level for bulls.
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my best guess so far wave {i} of C is a double zigzag
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alternative count: sub wave {iii} is a triple zigzag
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primary count: sub wave {iii} is a double zigzag
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like a candle in the wind
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maksoy
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Thanks...
maksoy
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What do you think for new low?
Thanks.
wsbza
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@maksoy, maybe another c wave rally to complete an expanded flat for pink wave 4 or part of the pink wave 4