My target of .39 was reached this morning and we appear to have completed an ABC correction of the Minor Wave (yellow) with the underlying structure of the Minuette Wave (orange) at 0.35. Its possible this could turn into a complex wave still at this point, but this is the expected retrace point of 0.382 fib I called this morning.
A break below the trendline (red) would be a bearish sign imho.
I want to stress again that 0.39 was the 0.382 retrace of the Minor Wave series down that ended at 0.28. We need a new high to confirm the reversal of the trend, otherwise this was just a correction wave and we would be looking at sub 0.24 targets for the next series.
A break below the trendline (red) would be a bearish sign imho.
I want to stress again that 0.39 was the 0.382 retrace of the Minor Wave series down that ended at 0.28. We need a new high to confirm the reversal of the trend, otherwise this was just a correction wave and we would be looking at sub 0.24 targets for the next series.
