Step Back: 2 Charts, Same Target Zone - Part 2
Updated
Part 2: An expanding flat corrective pattern is unfolding at cycle degree. Primary wave ((B)) is nearing completion. What is depicted here is an extreme simplification of several possibilities. The following wave, primary degree wave ((C)), will unfold as a five wave impulse.
The target would be returning to the bottom of primary degree wave ((A)). It could be truncated, about equal, or make a lower low.
*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 returning to the bottom of primary degree wave ((A)). It could be truncated, about equal, or make a lower low.
*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.
Note
Showing some possibilities here:It's complex as a B wave should be. There are reasons I defend this count (to see, view my previously published charts and discussion).
Note
For your reading pleasure, my cautious count. Note
Working backwards (tracing out the 5s of the red ABC) I came to some clarity as to what I believe is the corrective count.
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