The previous wave count has become cloudy with the
5 waves up from 145.57 and has suggested that a flat
is now possible. (Or a resumption of the up trend.)
Another 5 waves up would make wave B a zig zag
I'd have to check how often that occurs, but, that
would give the 4hr chart a nice 3 wave look for a valid flat.
Pt D of a Bat would be a potential area for some sort
of reaction, if not the beginning of wave C
Risk seems well defined as any price action above
X would throw serious doubt into this idea.
Wave structure as price approaches will fine tune
the possibilities. Until then I may place an aggressive long
should the opportunity develop. Possibly a break and then
retest of 147.25 ???
5 waves up from 145.57 and has suggested that a flat
is now possible. (Or a resumption of the up trend.)
Another 5 waves up would make wave B a zig zag
I'd have to check how often that occurs, but, that
would give the 4hr chart a nice 3 wave look for a valid flat.
Pt D of a Bat would be a potential area for some sort
of reaction, if not the beginning of wave C
Risk seems well defined as any price action above
X would throw serious doubt into this idea.
Wave structure as price approaches will fine tune
the possibilities. Until then I may place an aggressive long
should the opportunity develop. Possibly a break and then
retest of 147.25 ???
