by Too Fast Eddie | 10/01/2019 9:38 pm
Again, we are reaching the moment on which BEARS and BULLS fight among themselves, the first to keep dragging the market, the Second to reverse it…
Since Christmas I have been talking about this movement, a 5-3-5 Correction, also called Zig-Zag correction.
The movement has been performed exactly as expected, despite the time it has taken to get completed…
First the bad scenario.
In the case that “C” becomes a long extended one (Extended Five), crossing lower than wave (i) (3200 USD), this count will become useless…
And now the hopeful scenario.
I expect, as also stated by @ew-and-patterns ,the start of a second sub-set of Bullish waves upwards, longer than the previous one, since they would be the start of a 3rd wave.
The projection Target levels would vary depending on the volume but, in my opinion, I would expect 5340 USD in case of a classical 3rd wave:
…or 6340 USD in case that 3rd wave is extended (i.e 2.618 times the height of wave 1)
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