Simply put, a motive wave is a price movement in the direction of the main trend. In other words, each motive wave is a step forward during a rally. Motive waves always subdivide into five smaller waves according to certain rules.
After 5 waves we expect a corrective move . Most of the time that move is a pullback.
Then we can expect another serie of 5 moves. How strong they are? Depends on the buyers down low.
After 5 waves we expect a corrective move . Most of the time that move is a pullback.
Then we can expect another serie of 5 moves. How strong they are? Depends on the buyers down low.
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We want 5 more waves down for the wave C.
Idealy we dont overpass 0.65 retracement fib.
We want to sustain the bullish pitchfork and not to fall out of it.
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Abnormal retrace for a zig zag. The current retracement of a suggested wave B in this correction went way too high which could indicate the market strenght.
For the moment i see 4 waves developed and potentially 5th on the way.
Bullish algo active still. 0.65 is the last stand for bull algos.
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This could have been the bottom. I see 5 waves in.
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2 Perspectives
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Yellow (1) (2) still alive...
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This could be the bottom.Nota
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Fixed count. Tired , didnt notice the flat in the wave C which is invalid.
If sideways combo, then it would be fine
W- ZZ
X- ZZ
Y- Flat
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Adding bearish perspective . Since the green area is my last stand of support for bullish case
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Green box reached. I want to see it from here.
Tho i could see one more leg down. Anyway, i would start being unintrested in longs if we go way too low.
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