I strongly believe we are currently in a corrective wave 2 of a long term wave C pattern that should complete near the fall, end of the year.
What I previously thought was an expanding diagonal (https://www.tradingview.com/v/XG2mSMoK/) now appears to be a double corrective wave 2. If A=C in the corrective , then we can retrace as far as 2.95, but using channeling, fibs, and market sentiment as a whole, I believe we might start to bend up before that, around the 3.09-3.18 mark. That would be a great LONG entry.
If we dip below the bottom of wave 1 (2.90) then ALL BETS WOULD BE OFF, as wave 2 can never retrace more then wave 1. However, if this turns around when I intend, we should experience a strong wave 3 move to the upside soon.