I have labelled the 2009 - 2015 move as an A B C ZigZag with an ending diagonal wave c
The advance has turned at the point where Wave c = Wave a
Wave c looks like an expanding ending diagonal. If this is the case a break of wave 4 of c should lead to a rapid move to the beginning of the diagonal which is at 4789.
Bearish RSI divergence is present between waves 3 and 5 of c
From a daily perspective i have labelled the current decline as a possible leading diagonal wave a or i. If this is the case I would like to see a 3 wave b or ii after which I would enter short on a break of b. The path I am looking for is shown by the green lines. Ideally I would like to see a break of 6076 after this to accelerate the move in a wave c or iii.
I will post further information in due course.
The advance has turned at the point where Wave c = Wave a
Wave c looks like an expanding ending diagonal. If this is the case a break of wave 4 of c should lead to a rapid move to the beginning of the diagonal which is at 4789.
Bearish RSI divergence is present between waves 3 and 5 of c
From a daily perspective i have labelled the current decline as a possible leading diagonal wave a or i. If this is the case I would like to see a 3 wave b or ii after which I would enter short on a break of b. The path I am looking for is shown by the green lines. Ideally I would like to see a break of 6076 after this to accelerate the move in a wave c or iii.
I will post further information in due course.