This is the leading diagonal I spoke of. Clear and valid 5-3-5-3-5. Typical retracement would be 50-61.8% but it could go anywhere in that grey box. Note the dates
$213 is the lows I was talking about. Not the 166 low.
This chart has only corrective traits.
The purple boxes represent potentially valid impulse waves (5 waves that satisfy the three rules of EW). The first one is only on BFX. All other exchanges have 3 wavers in that position. the second and third (larger red box) obviously cannot make a full larger impulse. This makes a perfect WXY complex corrective wave for A. More reasons why this isn't a bullish formation is because the blue horizontal arrow. That signifies overlap that further voids any chance of making an impulse by extension. Therefore, this structure can only be counted as an ABC.
One more still valid count that may or may not get invalidated in the coming weeks is this
Nested waves, but it drops the third nested wave as a B of an irregular/expanding flat.
I honestly cannot even force (by bending rules) a count that is longer term bullish.
$213 is the lows I was talking about. Not the 166 low.
This chart has only corrective traits.
The purple boxes represent potentially valid impulse waves (5 waves that satisfy the three rules of EW). The first one is only on BFX. All other exchanges have 3 wavers in that position. the second and third (larger red box) obviously cannot make a full larger impulse. This makes a perfect WXY complex corrective wave for A. More reasons why this isn't a bullish formation is because the blue horizontal arrow. That signifies overlap that further voids any chance of making an impulse by extension. Therefore, this structure can only be counted as an ABC.
One more still valid count that may or may not get invalidated in the coming weeks is this
Nested waves, but it drops the third nested wave as a B of an irregular/expanding flat.
I honestly cannot even force (by bending rules) a count that is longer term bullish.