Trendline support corrective pullback ..possible path
Right at limits of tolerance for expanded flat C=200A with 5 waves down with pos divergence wave 5 =wave 3 so value to outperform growth for a while ..Are new highs a given ..no..
Reached my target and folowing path after entry point
Proceeding according to plan needs a 4 and a 5 and then corrective pullback
Recessionary theory winning out with b looking to complete in a 3/3/5 movement
May be missing new high in C but bearish set up is there
Bullish thesis still valid as an expanded flat ..see coffee for recent example
Time and price coinciding needs PB ..usual scenario would be to prior IV ..negative divergence ...do not know what funny scenario will be...CFO caught in some nonsense scandal maybe ?
Tech rally may be done ...do not think it is based on $AMD $NVDA unless they were A waves moves off the lows ... that be very sneaky but definitely relative outperformance of value short to medium term
Hit target to the tee for 5 of 3 now for pullback which may not be substantial equity breather ..watch metals
The 1,2,1,2 count in white ......bullish short term
Following the playbook after attempted false breakout the 50 back is an important level tells me whether we are working on bullish wave 1 of 3
Has done enough to complete correction and C equals A target with clean 5 down in C
Interesting to see if this trendline holds . If so would suggest working on larger B wave triangle .
Down almost 100 pips since tweet ...more down expected
Update on $GBPAUD ..following the plan, pulls back nicely.
Enough waves in places for a major low in dollar ...above red would suggest correction over
Only bullish count is a LD ...possible...if so would suggest further downside in $DXY ..as per $audusd