Leaning towards the market starting to turn over again now... took a lot of time to recount and review and I think the breakdown from the wedge up completed the relief rally (where I have (e) = “v” = “C” = “X”; all of these being lesser degree structures coming together, I.e. e completed V; V completed C; and C completed X).
With that, it looks like we are currently in 5 waves down, with today being wave 4 retrace (white “iv”).
Game Plan: higher high break of 281 can suggest different corrective structure, until then, I’m sticking with watching for price to retrace and make a lower high below 281. As we will be in wave 5 down, this should break down into 5 smaller waves. So the retrace I’m looking for will be the 1 - 2 wave structure and hopefully catch good entry to short. Roughly thinking 275 > retrace 278 > 270 > consolidate > 264.
This is just what I’m seeing as of tonight. Markets change just as this projection can change!
With that, it looks like we are currently in 5 waves down, with today being wave 4 retrace (white “iv”).
Game Plan: higher high break of 281 can suggest different corrective structure, until then, I’m sticking with watching for price to retrace and make a lower high below 281. As we will be in wave 5 down, this should break down into 5 smaller waves. So the retrace I’m looking for will be the 1 - 2 wave structure and hopefully catch good entry to short. Roughly thinking 275 > retrace 278 > 270 > consolidate > 264.
This is just what I’m seeing as of tonight. Markets change just as this projection can change!