Overview: let's review the expectations in the previous update:
Update: not much update is needed to the hourly count, we are in wave 3 of (A) of 3 of c of (III). If this is the correct count, first we need to see bearish pressure breaking down the channel to show wave 3.
What about the alternative scenario? the alternative scenario is still valid and is that we have completed wave a of Z (the move initiated August 16th) and we are in wave b of Z at the moment. So far we have completed one zigzag in b of Z, so it can turn out to be a triangle, flat or double zigzag.
- We got a perfect rejection in the area noted as wave 2 of c of (III).
- We are in wave 1 of (A) of 3 of c of (III).
- Unless invalidated, I will stick to this count, but the other scenario is still possible.
Update: not much update is needed to the hourly count, we are in wave 3 of (A) of 3 of c of (III). If this is the correct count, first we need to see bearish pressure breaking down the channel to show wave 3.
What about the alternative scenario? the alternative scenario is still valid and is that we have completed wave a of Z (the move initiated August 16th) and we are in wave b of Z at the moment. So far we have completed one zigzag in b of Z, so it can turn out to be a triangle, flat or double zigzag.
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