click to enlarge
So far no impulse waves to the upside.That argues for this as a corrective move sideways rather than some basing action with the seasonal low behind it.The big Q here is whether this is another X wave down, finding support at the .76 retrace, to be followed by aZ structure up, or did it finish up at the 4.124 level, and is now headed for new lows?
Sometimes the pit trading hours only chart is useful to clean up the look of the wave structure:
This is near to looking like an impulse wave down from 4.14. new lows. Under the 3.81 level (and the .76 retrace point) ought to do it.
No comments:
Post a Comment