Looks like we might be in wave 4 pull back to around the 0.382 level of wave 3 in the form of WXY >
Yellow line in the chart is the 3.618 extension of the larger degree wave 1. Possibly pullback one more time for a larger degree wave 4, then down for larger degree wave 5.
Yellow line in the chart is the 3.618 extension of the larger degree wave 1. Possibly pullback one more time for a larger degree wave 4, then down for larger degree wave 5.
Comment:
Maybe ABC and 3 of C hitting 4.618 extension >
Comment:
WXY, or even WXYXZ possible too >
.382 level to watch
Comment:
May be in something complex >
According to rules below WXYXZ could be possible.
Wave W must be a zigzag pattern.
Wave X can be any correction pattern, except an inverted broadening triangle.
Wave X is smaller than wave W.
Wave Y must be a zigzag pattern.
Wave Y is, at minimum, equal or bigger than wave X.
Wave X² can be any correction pattern, except an inverted broadening triangle.
Wave X² is smaller than wave Y.
Wave Z must be a zigzag pattern.
Wave Z is, at minimum, equal or bigger than wave X².
According to rules below WXYXZ could be possible.
Wave W must be a zigzag pattern.
Wave X can be any correction pattern, except an inverted broadening triangle.
Wave X is smaller than wave W.
Wave Y must be a zigzag pattern.
Wave Y is, at minimum, equal or bigger than wave X.
Wave X² can be any correction pattern, except an inverted broadening triangle.
Wave X² is smaller than wave Y.
Wave Z must be a zigzag pattern.
Wave Z is, at minimum, equal or bigger than wave X².
Comment:
So far looks like WXYXZ completed with Z equal to X >
POssibly some other complex correction though
Comment:
If wave 5 has started >
Comment:
Possibly a bigger WXY in play, bounced perfectly at .786, 1.272 extension around 6740 >
Which coincidentally is the 0.382 retracement level
Comment:
Could be in C, in ending diagonal
Comment:
An idea >
Maybe now in starting wedge for wave 1
Comment:
Looks like a starting wedge for wave 1 of 5 so may pop out of the wedge and correct before moving down further
Comment:
The never ending correction? Now looks like WXYXZ >
As Z must be at minimum equal in length to X(2) then we should see 6740 if this is a WXYXZ
Comment:
Its possible I think that this 5th wave is completed; Some nice Fibonacci levels, extensions of wave 1 and 3 >
Subwaves zoomed in >