Based off my last post there were 2 scenarios i had talked about. I did not mention the possible truncated 5th wave scenario. I believe this has become the case where the 5th sub wave in C wave ends off in a truncated position (above W4). We can look at this as a bullish indicator as the bears failed to push it below the 4th sub wave position.
What we are looking for now is the bottom of W2. We need to watch for the support level of the end of wave C (5th sub wave). This level ($203) cannot be broken or we will need another correction (XYZ).
If W2 bottom remains as $205, my projection for W3 is $221-$223
Let me know what you think!
What we are looking for now is the bottom of W2. We need to watch for the support level of the end of wave C (5th sub wave). This level ($203) cannot be broken or we will need another correction (XYZ).
If W2 bottom remains as $205, my projection for W3 is $221-$223
Let me know what you think!
