We have a number of factors which may
support a corrective rally (assuming w5
has/is near completion). Would need to
see definitive evidence of reversal (candle
pattern, etc) on lower time frame to
trigger any desired long.
support a corrective rally (assuming w5
has/is near completion). Would need to
see definitive evidence of reversal (candle
pattern, etc) on lower time frame to
trigger any desired long.
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Obviously wrong on this assessment. It looks more like my wave 3 was actually w1 of w3, and now in 3 of w3. Acceleration gaps often occur in w3s. Needless to say, I missed it on this! If this gap is an exhaustion gap, then price should reverse fairly quickly. If this occurs, then can reassess, but for now, this needs to work itself out one way or the other.
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Starting to look like the big push down may have been a flashcrash?