FCPO. Currently within the range of a bull trap.
We observed a price rally that surpassed the extreme swing high of Wave 3. However, at this point, we are only seeing a three-wave advance from the low of Wave 4. It is premature to conclude that Wave 4 has bottomed.
To manage our expectations and account for both scenarios, it remains possible that Wave 4 has not yet reached its bottom.
The alternate count (in purple) suggests the probability of a bull trap being in play.
To manage our expectations and account for both scenarios, it remains possible that Wave 4 has not yet reached its bottom.
The alternate count (in purple) suggests the probability of a bull trap being in play.
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