If you compare that to the updated one now, you'll see that OVERALL, nothing has changed! I predicted ahead of the FOMC that there was to be a wave (2) down after the completion of the wave (1) and minus a small adjustment to my chart, IT'S THE SAME OUTLOOK! So the FOMC caused some panicked swinging moves that broke up above my pre-FOMC high point but just as quickly settled back below the MAJOR SR Structure and is now continuing what I predicted would happen before the FOMC ever happened. Just as if NOTHING HAPPENED! Why? Because the most of this news had already been absorbed into the prices. Nothing fundamental needed to see that. Yes, there was a "spike" up but that is caused by all the emotional fundamental traders whipsawing themselves to death! After all the emotional traders got out or settled in, the logical, technical charting took over as it is now and is going as it SHOULD'VE if the FOMC never happened. That's what we are seeing now.
My chart here makes it pretty clear what the chart itself is showing:
1. pattern formed
2. There is that COMPLETED Bat
3. The FOMC swinging left a
4. the moves were both false breaks above a good SR structure zone
And now, prices are dropping off of those patterns in accordance with my wave count. Further, I have this wave (2) eventually retracing the wave (1) before it into the G-Zone reversal area at the minimum to the .618 level in a retest of the lows before taking off in what could be a MASSIVE wave (3) up if my counts are correct.
MY TRADE PLAN
I'm riding this trade down into the G-Zone should it get there. I may take some profits along the way though as you never know for sure what will happen.. Stops are above the highs of course.
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