Dan has a great post tonight on the Trannies. I wanted to take another approach to this which would arrive roughly at the same spot as Dan.
I have labeled the Trannies as a triple zigzag. If this is correct, the final wave C ended with an ending diagonal and a wave 5 throw-over. One issue I do have with this count is that the sub-waves for the ED may not necessarily count as 3-waves (a-b-c). I have not spent the time to drill down the micro count for this.
I just like the way price respected the wedge for subwaves 1-4 and wave 5 ending in a throw-over. So just based on "looks", it looked right.
Notice the Fibonacci relationship of wave (c) of Y to (a) of Y. It is nearly 1.618 x (a).
I guess we'll see here shortly.
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