Potential reversal pattern

١٠ أكتوبر ٢٠١٧

if the pink a-b-c is an expanded flat correction after the initial decline (52.83 to 49.75), we should expect another wave down once the correction is finished

note
wave b travels approx 1.382 times the length of wave a

١١ أكتوبر ٢٠١٧

ملاحظة

51.43 is where wave c equals to 1.618 of wave a, a point that close to 61.8% fib retracement level
i think another modest push towards 70.7% fib is also possible
note divergence between price & RSI

١٢ أكتوبر ٢٠١٧

ملاحظة

whether the recent high of 51.39 is the end of c or alternatively we have a truncated c , price should break the trend line first

١٥ أكتوبر ٢٠١٧

ملاحظة

٢٣ أكتوبر ٢٠١٧

ملاحظة

took a small short with a tight stop

٢٣ أكتوبر ٢٠١٧

ملاحظة

٢٤ أكتوبر ٢٠١٧

ملاحظة

bearish count invalid