I was expecting Subminuette wave c of Minuette wave w of Minute wave iv to complete a measured move (at 1969), but a doji took place at 1947, between the 61,8% and 100% projections (near an important trend line), and was then confirmed by the following candle, so Minuette wave w was done and it was time to go down for Minuette wave x, which Subminuette wave c could be already finished or still underway.
So, for now, let's see if the 0,618 projection holds (confluence with the 50% retracement of Minuette wave w, with the support trend line in the 4 hour time frame, and with a strong support zone), or if price keeps going down and then holds at the 100% projection, completing a measured move.
If I'm understanding all of this correctly (it's a huge if!), the index could be forming the bottom for a strong rally into the top of the channel, completing my proposed Minute wave iv.
So, for now, let's see if the 0,618 projection holds (confluence with the 50% retracement of Minuette wave w, with the support trend line in the 4 hour time frame, and with a strong support zone), or if price keeps going down and then holds at the 100% projection, completing a measured move.
If I'm understanding all of this correctly (it's a huge if!), the index could be forming the bottom for a strong rally into the top of the channel, completing my proposed Minute wave iv.
