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The "c" currently is 1.15 x the "a" wave. If that count is correct, certainly a test of 1.34 is in store, and given the winding up over that level it may well have a shot at taking it out. Of course the huge short open interest is problematic, so beware a quick retest of the breakdown point if it gets it. On the other hand, I have an unconventional count of a series of 1,2's down possible, and a seriously damaging move through 1.34 then accelerating would be consistent with that.
click to sharpen
Longer term a rally back above 1.40 would call for a lot of re examining of the count.
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