Short-term bull?
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will this clear 5 waves decline define the larger degree trend in the near future?
will it lead to a sharp zigzag correction that may retrace 50% or 62% of the entire fall?
will it lead to a sharp zigzag correction that may retrace 50% or 62% of the entire fall?
Nota
Nota
potential resistance levels are:
70.7% retracement at 16.626
78.6% retracement at 16.677 (also if wave Y circle equal 1.382 times the length of wave W circle)
16.681 if wave c of Y circle equal wave a of Y circle
16.749 if wave Y circle equal 1.618 times the length of wave W circle
previous wave 2 circle ended at 16.717
A solid close below 16.431 would signal further downside potential
Nota
the top is unconfirmed Nota
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nothing new here, sell after pull back
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the short-term pattern looks like a triangle, so I am expecting a new low first Nota
hard to say wave a is in 3-waves or 5-waves, if in 3 waves it could be the entire correction but usually correction take more time
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short-term counter trend rally?
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recent rally seems corrective therefore the near term outlook remains bearish Nota
If the above count is right, I would not expect blue wave {v} to go beyond 14.611 as it should not be the shortest wave
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still bearish
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wave 5 is underway
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Could be very close to the end of wave {v} of C Nota
maybe like this
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
Email：info@ewc.space
Email：info@ewc.space
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