We are at critical crossroads. Seems like two striking possibilities here in this excellent local EW form.
1-2 i-ii or abc. The one two chance begins with a primary wave extension, nothing wrong with this count but it is fragile, becoming invalid with a solid break under 2500. abc only just meets the B wave retrace level of a flat. This would take us lower to a limited downside. The bigger picture is Bullish in either case.
[img]https://www.tradingview.com/x/OVg6RiPI/
[img]https://www.tradingview.com/x/pZtkOb77/
1-2 i-ii or abc. The one two chance begins with a primary wave extension, nothing wrong with this count but it is fragile, becoming invalid with a solid break under 2500. abc only just meets the B wave retrace level of a flat. This would take us lower to a limited downside. The bigger picture is Bullish in either case.
[img]https://www.tradingview.com/x/OVg6RiPI/
[img]https://www.tradingview.com/x/pZtkOb77/
I am thinking along the same lines, but with a bias towards the lower one (obviously, for a bear
).Expecting the first correction about 6 hours from this post, of course if the small triangle breaks down.
Tzupy,
Curious, why are you bearish?