fives complete, time for threes
it seems like the 5 wave to the upside has complete. i anticipate a 3 wave decline to area 0.5 to 0.786 retracement for wave 2 orange before begin to rally again for wave 3.
Nota
kinda look like there is a 3 wave decline unfolding as expanded flat. But it also could be as (w) wave of WXY as wave 2 often deep correction. Nota
the rejection on 50% retracement level looks nice as some confluence for the end of correction and start of wave 3Nota
wave 3 of orange is underway. the purple wave is the subwave of orange wave while grey is the subwave of purple wave. im not so sure about the count of the grey wave as it is maybe submicro degree. for now, im expecting orange wave 3 go to 161 extension or perhaps higher before expecting wave 4Nota
Wave 3 of purple has complete and also its wave 4. wave 5 is likely underway. if the price go beyond 90.66, the purple wave would be invalid as wave 3 is the shortest. thus, i expect wave 5 of purple will end at area of 89.65 thus completing wave 3 of orange. Nota
i'll just assume that wave 3 orange is complete and i expect a 3 wave move downward to 0.236 - 0.382 fibs retracement for orange wave 4 correction Nota
should've wait for price reach 161 for completing wave 3 :(however the first move for wave 4 orange might be on its way
Nota
since the wave 5 of purple is the longest of the 3 , i recount the purple wave and come out with this count where the purple wave 5 = wave 1. Nota
it could make one more push to the upside for wave 5 of grey. However im not sure it's wave 4 has complete or not. i'm eyeing on 92.16 - 90.08 as the zone for wave 4 grey with invalidation at 89.34it could also has completed wave 3 of orange (im not sure about this)
-- lower timeframe waves can be very confusing :")
Nota
Barrier triangle?
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