If we take a look from 2006 the full view seems very probably we are in a expanded flat.
Actually the decline from 4.6480 seems to be the 1)) wave o a C] wave
The decline have several hints to confirm this view:
Wave 4th has a near to 50% retracement and is in a contractile triangle shape
Wave 5th is the extended one and are near to its 61.8% portion of traveled by waves 1 to 3
Under this theory we must expect a deep retrace (probably in a zigzag fashion) to get back as much as the 4.000 area
Actually the decline from 4.6480 seems to be the 1)) wave o a C] wave
The decline have several hints to confirm this view:
Wave 4th has a near to 50% retracement and is in a contractile triangle shape
Wave 5th is the extended one and are near to its 61.8% portion of traveled by waves 1 to 3
Under this theory we must expect a deep retrace (probably in a zigzag fashion) to get back as much as the 4.000 area