Assume count is correct we still have room for upside that is wave 3 of 5 and wave 5 of 5.
Despite strong bearish divergence on M1 chart, we still need pattern completion.
Should this idea come into fruition, I expect a sharp reversal at ~218 (probably for wave 4 of 5), and ~297 (completion of 5 wave structure).
All in all, even though there are bearish candle sticks forming on the medium TFs (daily/weekly for equity markets), we are still lacking pieces that complete EW patterns.
The main purpose of this idea is to follow the price action of major companies that have significant impacts on financial markets in order to anticipate the depression/recession that is to come when 5 wave structure on large TFs are completed in indicies/equities markets.
Despite strong bearish divergence on M1 chart, we still need pattern completion.
Should this idea come into fruition, I expect a sharp reversal at ~218 (probably for wave 4 of 5), and ~297 (completion of 5 wave structure).
All in all, even though there are bearish candle sticks forming on the medium TFs (daily/weekly for equity markets), we are still lacking pieces that complete EW patterns.
The main purpose of this idea is to follow the price action of major companies that have significant impacts on financial markets in order to anticipate the depression/recession that is to come when 5 wave structure on large TFs are completed in indicies/equities markets.
