The first wave, which became a failure once it retraced past its origin, was the final correction. The following wave, which we will now consider wave 1, hit 0.0008920. Wave 2 has retraced to the 0.618 region, signaling the start of wave 3. We will target the 1 to 1 extension, but observe the likelihood of hitting the 1.618 level. Once we pass 0.0008920, that will become our stop-loss.
Comment:
We pulled back a little further than expected; the whole market took a dip. We're still very shaky. Don't be fooled by a few green days, we still have a long way to go. Pending favorable market conditions, our targets still stand, for the impulse wave has not been invalidated.