Basic - there is wave Z (cycle dimension) down ahead. There was possible 1-2 sequence.
Alt - there is wave C of (2) ahead.
Both scenarios consider decline.
Alt - there is wave C of (2) ahead.
Both scenarios consider decline.
Comment:
Structure develops according to Basic and ALT scenarious.
The current decline suits the third-wave character.
The current decline suits the third-wave character.
Comment:
Between 91-85 there is a target for the alternative scenario. A=C in (C)
Comment:
Possible ending for the corrective rise.
Comment:
The rise made an impulsive pattern. That's why there are some changes on the short-term scale.
There is more 1-2 sequence under the Basic scenario
ALT - more upside possible even higher 111,540
There is more 1-2 sequence under the Basic scenario
ALT - more upside possible even higher 111,540
Comment:
Comment:
It appears that there was a Flat
Basic - in wave ii
ALt - in wave ((b)) of C
Basic - in wave ii
ALt - in wave ((b)) of C
Comment:
The structure is developing.
Basic - there is another third wave to the downside
ALT - there is also a decline in the fifth wave in the C wave.
If there will be a corrective rise it will provide a setup for the short.
The possible targets of this decline are arround the bottom channel line.
Basic - there is another third wave to the downside
ALT - there is also a decline in the fifth wave in the C wave.
If there will be a corrective rise it will provide a setup for the short.
The possible targets of this decline are arround the bottom channel line.
Comment:
There were some changes at the small 1H timeframe. I think that there was just wave (i) and not 1-2 sequence, because that provide too sophisticated structure (IMHO)
Comment:
The structure develops but gets more sophisticated. That is not good for the basic scenario. But adds more ground for the Alternative.
The next move under both scenarios is to the downside. In case the basic scenario plays out that should be a big decline in the third wave of many dimensions.
In case the alternative is in place then there should be only a moderate new low at a level around 84-85+-.
The next move under both scenarios is to the downside. In case the basic scenario plays out that should be a big decline in the third wave of many dimensions.
In case the alternative is in place then there should be only a moderate new low at a level around 84-85+-.
Comment:
The price in the target zone.
Of cause, there is needed confirmation for the turn, which is not yet the case.
Of cause, there is needed confirmation for the turn, which is not yet the case.
Comment:
Basic - there is quite messy development for wave 3, so I leave without lower-level wave counts. The main idea - there is more downside potential. But with the last developments in structure, I consider this basic scenario to lose ground.
ALT - Start of the substantial rise after the end of wave C. There are possible waves (i) and (ii). The shape of wave (ii) is Flat with the last impulsive subdivision to the downside.
All in all, I still can not through away this basic but as soon as we get more confirmation from the market (complete impulse from the last bottom) I will change ALT to Basic.
ALT - Start of the substantial rise after the end of wave C. There are possible waves (i) and (ii). The shape of wave (ii) is Flat with the last impulsive subdivision to the downside.
All in all, I still can not through away this basic but as soon as we get more confirmation from the market (complete impulse from the last bottom) I will change ALT to Basic.
Trade closed: target reached
In the short-term some upside under both scenarios. And decline after