If the wave count is correct (which i think it is) we should be busy with sub-wave 3 (of wave 3) These are both aggressive waves which should encourage strong upwards movement. Current movement is slow but should pick up as volume increases.
One concern is the rising wedge which normally represents a bearish action
No financial advise Educational purposes only
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lol ... What a blunder i made with the heading .... It should have read "What will be the outcome of the rising wedge"
I disagree that the count is correct. The first set of impulse waves you have wave 4 as the longest and that shouldnt be. I would consider that to be wave 2 to 3. That would put us at an A B C correction where we are in B now and C is about to happen. Just sharing my thoughts.
martinbrits28
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@speedspirit, Thanks for your feedback which i appreciate ... Wave 4 is a retracement (reactionary) wave and the lengths differs. Waves 1,3 and 5 are the actionary waves and the rule is that anyone can be the longest as long as wave 3 is not the shortest. Impulse waves 1,3 and 5 consist of 5 sub-waves each and waves 2 and 4 consist of 3 sub-waves each. If you zoom in and make the counts you will see it meets this criteria.