FCPO - THE MOMENT OF TRUTH
We got our 5 wave down and 3 wave up.
But currently price is trading near our invalidation level.
As for now, Elliott rules for impusle wave still hold where wave 2 can never retrace 100% of wave 1.
Trading above our invalidation level would invalidate the current wave analysis, requiring a reassessment of the wave structure.
Alternate count idea:
extreme low of today morning trading session can be lable as wave 4 end point and the upside rally in today trading session as wave 5.
But currently price is trading near our invalidation level.
As for now, Elliott rules for impusle wave still hold where wave 2 can never retrace 100% of wave 1.
Trading above our invalidation level would invalidate the current wave analysis, requiring a reassessment of the wave structure.
Alternate count idea:
extreme low of today morning trading session can be lable as wave 4 end point and the upside rally in today trading session as wave 5.
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