Yellow count would represent a larger flat and full market shakeout. However, the initial drop from 49k can be regarded both Motive or corrective. Hence why we have such a strong upwards move.
This is why i added a sideways combo potential .
Significance in sideways combination guideline wise is that the retracement of the initial actionary wave W should be at least 90% . Current spot price wise is enough for me to call it a wave X or B of a larger flat.
If we are in a sideways combination, any simple corrective pattern for a wave Y is possible.
Triangle/ Flat/ Zig zag
This is why i added a sideways combo potential .
Significance in sideways combination guideline wise is that the retracement of the initial actionary wave W should be at least 90% . Current spot price wise is enough for me to call it a wave X or B of a larger flat.
If we are in a sideways combination, any simple corrective pattern for a wave Y is possible.
Triangle/ Flat/ Zig zag