Step Back: 2 Charts, Same Target Zone - Part 1
Part 1: A bullish five wave impulse at cycle degree scale is nearing completion. Completing a five wave cycle marks the top of a supercycle degree wave I.
The target would be a 3 wave cycle degree decline to the previous fourth wave of once lesser degree, the zone of cycle wave IV.
*The pattern in which the decline to next major low is met will determine which big picture count is correct.
**Personally, I am sitting on the sideline and watching. When more of the pattern is developed, it will be appropriate to zoom in again.
The target would be a 3 wave cycle degree decline to the previous fourth wave of once lesser degree, the zone of cycle wave IV.
*The pattern in which the decline to next major low is met will determine which big picture count is correct.
**Personally, I am sitting on the sideline and watching. When more of the pattern is developed, it will be appropriate to zoom in again.
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