Quote from: AR_fan on August 28, 2018, 07:39:01 PM

well right now your chart are rekt

i thought E was supposed to be the last wave ? Cheesy

A Fibonacci 38.2% to 61.8% retrace of the previous downtrend, i.e. from 24-JUL to 14-AUG, doesn't invalidate the overall bearish stance of the market.

Taking out the high of 24-JUL would favor a bullish scenario, until then, the market remains with an overall bearish bias.

The market is rallying into the 31-AUG CME last trade date, possible upside approx targets are as follows:

@7200: Fibonacci 50% retrace of 24-JUL to 14-AUG downtrend. High probability
@7500: Fibonacci 61.8% retrace of 24-JUL to 14-AUG downtrend. Medium probability
@8000: Fibonacci 78.6 retrace of 24-JUL to 14-AUG downtrend. Low probability

Upon completion of the bounce, the next sell-off leg towards 5200 approx ought to resume.

Models are speculative Elliott Wave guesswork.

Trivia: the number of views of this thread has now surpassed the price of Bitcoin! Tongue