Hi traders,
Overview: first of all, my triangle count was invalidated today. However, it was not unexpected in our plan as stated on July 16th review: "please remember the most important point is to catch the daily move in the right direction, while my general perspective has been generally accurate. Even if my triangle count is invalidated, the other possibility is that wave X is a flat. So, we are in leg c of flat right now, completing its wave 1, and then what follows is wave 2. You can see that in both counts, we expect a pullback to at least 3800 area."
Update: I am now considering wave X as a flat. Waves (I) and (II) have been completed, with wave (III) currently in play. I see wave X reaching the top of the bullish channel (blue lines) as a potential target.
Overview: first of all, my triangle count was invalidated today. However, it was not unexpected in our plan as stated on July 16th review: "please remember the most important point is to catch the daily move in the right direction, while my general perspective has been generally accurate. Even if my triangle count is invalidated, the other possibility is that wave X is a flat. So, we are in leg c of flat right now, completing its wave 1, and then what follows is wave 2. You can see that in both counts, we expect a pullback to at least 3800 area."
Update: I am now considering wave X as a flat. Waves (I) and (II) have been completed, with wave (III) currently in play. I see wave X reaching the top of the bullish channel (blue lines) as a potential target.
