One more or at most two weeks, then a long setup should form (entry = green circles).
As long as the price stays below 69.62, we could still see some bearish days. Correction of the blue b c stretch (of the A) to 0.618% would be appropriate, but also lower to 0.786% is not excluded. If the blue path is confirmed, then you could go long at the low in December and hold. Break and close above 69.62 speaks for bullish development on a daily basis. In...
Potential short ... Next week ... Monday, Tuesday. The first confirmation of falling prices would be break and close (Daily) under 1.87716. Overcoming at 1.90937 would disable this scenario and lead to higher targets.
Just SIMPLE: daily close above the MA 20 remains long, short starts below.
January's low should allow good long entry.
If the big picture is confirmed with a strong sell-off in January, then it could result in a very good short trade.
No close on a weekly basis below 0.7450 and... the setup could work.
November with HH and short! Of course the wave 4 can also take less time. But I did not want to ignore the pattern of Wave 2. This view is an alternative to my previous chart.
The last week in October or at the latest the first week of November will show where the journey continues ... It is important that on a weekly basis there is no closing price below 6968, then I would expect rising prices until June 2020. Break and close under 6968 leads to 5071 & 3970.
If not tomorrow, then next week, I'll look for long in the buy zone, in the blue circle. SL under 1.30