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Originally Posted by ronnimar
patricio_w what is your opinion ?
we have just finished wave B (he retraced 50% from wave A)
and noe we are forming wave C.
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Mmmm, its difficult to say right now, i think than tomorrow its a big huge information and the market will wait for it
What i can say, is than looking at the chart i see a sharp rally again instead of a form of ABC, if you take a look the minor wave 2 touch the 0.786 retracement of thye minor Wave 1, thats should mean a rally of type 1,2,3,4,5. If that the case, the minor W3 should be running to the Alternate Price Projection and Retracements, were the gruop themselves, and i see a possible target between 1.2116 and 1.2129, then the minor wave 5 can break the 1.2139 confirming the last Wave 5 of bigger degree. That should end into a Wave A.
The other count possible i made in blue, 1,2,3,4,5 in place drawing the wave 1 or a finished at 1.2106, an now going for the wave 2 or b.
Is a diferent way to count but the same results as yours. This count looks more possible, because if you see the oscilator is in over bought zone, desacelerating the speed or looking for a bearish side
Conclusion, market is in side ways, no trend clear, my opinion is wait until tomorrow, and then draw possibles charts during the weekend