Bearish Count
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The previous post is getting too long, so I am starting a new post here.
A solid close below 112.042 (the end of wave iv of (c)) would suggest wave (c) has completed.
Alternatively, break above 113.176 would argue something else has been developing.
A solid close below 112.042 (the end of wave iv of (c)) would suggest wave (c) has completed.
Alternatively, break above 113.176 would argue something else has been developing.
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maybe a diagonal is the last piece of the jigsawملاحظة
Since 113.176 has been broken, we have to adopt different wave countse.g. triple zigzag (W)-(X)-(Y)-(X)-(Z)
or zigzag (A)-(B)-(C) , where wave (B) is a triangle
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looks bearish ملاحظة
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the short-term rally is very sharp, so another wave up to complete a larger corrective pattern is still possible.ملاحظة
either way ملاحظة
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If wave {c] equals 1.618 times the length of wave {a}, it could reach 113.416 (close to 61.8% retracement level)If wave {c} ends beyond the end of wave {a} by 0.618 times the length of wave {a}, it could reach 113.665 (close to 70.7% retracement level)
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not quite sure about the short-term structure, but could be a diagonal wave {c} in the makingملاحظة
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we probably need a sharp fall to valid this diagonal count, an immediate drop below 113.601 would be an ideal initial bearish signalملاحظة
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short-term bearish count ملاحظة
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possible long term count ملاحظة
I think either red or green counts are more likely to happenملاحظة
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if a bullish flag appears then breakout buyملاحظة
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drop below 110.162 would eliminate the bullish count in pinkملاحظة
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Either Double Zigzag OR
Triple Zigzag
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a triangle in the making?ملاحظة
a flat to complete wave {b} of Y?
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double zigzag for red wave {b}?ملاحظة
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if the current rally is wave (E) of triangle {B}, price should not go beyond the end of wave (C) of {B} at 114.55ملاحظة
possible short-term count ملاحظة
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possible short-term countملاحظة
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possible targets for blue wave {c}- 112.959 where wave {c} = wave {a}
- 114.267 where wave {c} = 1.618 wave {c}
Note
equality in length between wave {a} of W and wave {c} of W
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other possible countملاحظة
the first chart assumes green w-x-y could complete wave (ii)ملاحظة
both scenarios in one chartملاحظة
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an expanded flat for wave (ii)?ملاحظة
or a bullish count ملاحظة
the recent decline is very sharp, maybe we are still in the middle of wave X instead of Yملاحظة
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the recent rally looks corrective, I guess we could use the following count to interpret the structureملاحظة
It could be more bearish if wave (E) has ended at 112.4 (25 April 2019)check previous chart on 12 Feb 2019
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or (1)-(2) = {a}-{b} ( see charts posted on 26 May)ملاحظة
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
Email：info@ewc.space
Email：info@ewc.space
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