Bearish Count

looking for more downside potential

코멘트:

price is moving close to the lower channel line, maybe it near the completion of pink wave 3

코멘트:

wave 3 nearly done?

코멘트:

preferred micro count in blue, alternative count in white

코멘트:

no change on overall structure

코멘트:

I guess the next key level to watch is 89.62

코멘트:

could be another new low to complete pink wave 5

코멘트:

wave {5} of 5 at its later stage or has already bottomed

코멘트:

micro count

코멘트:

코멘트:

possible micro count

코멘트:

코멘트:

re-test the end of wave 4 at 95.15 ?

코멘트:

the short-term pattern does not support immediate bullish outlook
bullish wave 2 could be unfolded as an expanded flat
A decisive push above the recent high of 90.93 would suggest wave 3 is under way

코멘트:

it's possible that bluish wave 2 bottomed at 89.41

코멘트:

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코멘트:

short-term bullish count

코멘트:

코멘트:

we could assume i-ii & lower degree i-ii for the upside but wave (iv) could also be unfolded as a 3-3-5 flat

코멘트:

break below 93.12 ( the end of black wave ii) would favor the pink a-b-c flat scenario

코멘트:

immediate push above 93.73 would suggest the decline is in 3 wave then we may say this decline could be just a lower degree correction

코멘트:

코멘트:

possible corrective structure for blue wave iv circle
red zigzag (a)-(b)-(c)
or pink double zigzag (w)-(x)-(y)
or complex (b) or (x) wave (e.g. flat) of a zigzag, etc ...

코멘트:

코멘트:

코멘트:

also a 3-3-5 flat to form the blue wave {iv} is still possible

코멘트:

immediate break above 95.53 would eliminate triangle scenario

코멘트:

코멘트:

코멘트:

short-term alt count in grey

코멘트:

코멘트:

we could have
a red ending diagonal for wave {v} or
a green triangle for wave {iv} or
a grey flat for wave (ii) of {v}

코멘트:

코멘트:

코멘트:

double zigzag (w)-(x)-(y) to complete wave {b} is still possible, but unlikely to happen

코멘트:

If we label (w)-(x) as (i)-(ii) of wave {iii}, the end of wave (x) could be viewed as a critical support level for bulls.

코멘트:

코멘트:

my best guess so far
wave {i} of C is a double zigzag

코멘트:

코멘트:

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코멘트:

alternative count: sub wave {iii} is a triple zigzag

코멘트:

primary count: sub wave {iii} is a double zigzag

코멘트:

코멘트:

like a candle in the wind