Potential to get on board a Wave 3

14 nov 2013

As I write this may already be the bottom of wave 2 but, I'm hoping that 1 more zig or zag will finish the a-b-c correction with an entry @ .9100 or so. This would be into the more common 38.2 fib of wave 1 and an 1.272 extension of wave a. This is also near the bottom of wave 4 of one lessor degree - also common corrective behavior. Stops should probably go just below the 1.618 extension area. If this is a start of wave 3 of 5 then, at the very least the minimum target would be .9450 *where wave 3 = wave 1. However, it's more common for wave= 3 of 5 to = 1.618 of wave 1 which projects to .9670. *