We just finished an ABC correction for wave 2. Wave A, if you zoom in, shows a very clear 12345 impulse.
i.imgur.com/TNuh5gn.png
Wave B is an ABCDE rising wedge, which I mistaken for a 12345 leading diagonal in a previous post. Wave C is another 12345 impulse, completing the 5-3-5 zigzag.
Wave C also happen end at a 1 to 1 Fibonacci Extension from wave A, creating a point for reversal. In addition, on the RSI, we see a bullish falling wedge just ready to break out.
If we use our Fibonacci Extension of the the big wave 1 (black wave), we get targets of 520 and 580 for a 1 to 1 and 1.618, respectively. Remember, wave 3 is never the shortest and usually the longest.
i.imgur.com/TNuh5gn.png
Wave B is an ABCDE rising wedge, which I mistaken for a 12345 leading diagonal in a previous post. Wave C is another 12345 impulse, completing the 5-3-5 zigzag.
Wave C also happen end at a 1 to 1 Fibonacci Extension from wave A, creating a point for reversal. In addition, on the RSI, we see a bullish falling wedge just ready to break out.
If we use our Fibonacci Extension of the the big wave 1 (black wave), we get targets of 520 and 580 for a 1 to 1 and 1.618, respectively. Remember, wave 3 is never the shortest and usually the longest.
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The time has finally come!
