is consolidating in a WXY retracement right now after it's first impulse wave up. It has completed the first ABC
correction (expanded flat), the second ABC
correction (regular flat), and is now working on its third ABC
correction, wave structure yet to be confirmed. As it stands, if the last ABC
wave has a double top
at $92.45, it will likely retrace anywhere between the 0.618 and 1.236 fib extension of Wave AB, as shown by the yellow trend line
and target box, completing a regular flat on the last ABC
correction of the larger WXY. If wave B of the last ABC
correction were to continue retracing to 1.236 of wave A (following the green trend line
up to $96.99), it will then likely retrace anywhere between 1.236 and 1.618 fib extension of Wave AB, as shown by the green trend line
and target box, completing an expanded flat on the last ABC
correction of the larger WXY. Whether the last ABC
finishes as a regular flat or expanded flat, I see that there is money to be made - waiting to see if wave B retraces any higher than the start of wave A.
I am by no means an expert - share your thoughts.
Stay tuned. Happy trading.