One more update. This is a correction of my alternate count2. For some reason, I labeled my wave c of ii as and abc, whereas a clear 5 wave impulse up may be counted. It cannot be seen on the 5 min, but the 1 min shows an open gap below at 1095.60. I believe wave iv of c will most likely retrace to this level.
I have taken the measurement of wave i and projected from this gap what I feel may be wave v of c of ii. A .618 relationship to i places price near 1103. This will have to be just about it if this count is to work.
The key tomorrow will be to see how far this move up retraces once it completes. Obviously a break of the start of b (blue) at 1083.11 will confirm that ii is complete. A break above 1103.68 confirms minute [i] is in and [ii] is in progress.
[9:05 PM Update]
I had to make a correction in one spot (for now). I moved my minuette (iii) and Alt:[i] label to the 1085.32 low on 1/27.
Ok. My primary count is above. Minuette (iv) is in play and will most likely get stopped at the trendline. Minuette (v) to follow near the target zone.
I have two alternates I am watching that I feel may go either way.
The first is listed on the top chart. That would make minute [i] complete today at 1083.11. Minute [ii] is working it's way up now. Target near 1114.
The second alternate (second chart) I have, I posted on throughout the morning in the Circle Community Lounge.
****Note**** I have to apologize in my earlier charts, I had the wrong trendline drawn in for this uber bear count. I have since made the adjustment and it is nice that price ended the day right at the top. Sh!t happens when your trying to look at all the possible counts. Nothing has changed by this oversight, in fact it helps confirm that the count is still in play.
So the 1st alternate count has us in minute [ii] but my primary and alternate 2, though counted differently, takes us to the same level (1072ish) for the most part.
Hi from Argentina,
ReplyDeleteI ´m counting the 1085 area as a (5) and now developing in a (iii) of the A o the A-B.C correction for the entire movement. With a target in the 1110 - 1117 area, corresponding to a 38%/50% retracement.
would you consider this counting? Best regards ! AS
Once again, you are the exception, and I agree with you. Every other Wave blogger I see had no ability to count this move down...they have extensions and abc's and all manner of overly complex constructions made necessary by their incorrect counting.
ReplyDeleteThanks for the hard work and independent thinking. I appreciate it.
AS. Sorry I never had chance to reply to you. I guess we know the answer to ur question now. 1070ish is my target for a bottom of minute [i ]. We'll see
ReplyDeleteJohn. Thx for the kind words &Thank you both for reading my blog.