Overview: let's review the key points of the update of previous weekend:
Update: we broke out of the descending channel, indicating that the bottom for wave 4 was in. Right now, we are in wave 4 of (C) of 5 of c of (III). Based on the structure developed so far, and the Fib ratios, I am lowering my target for wave (III) peak to ~457.
- Wave 4 has developed 2 zigzags so far and it is possible that we are already in wave 5 or develop a third zigzag in wave 4, then start wave 5.
- If wave 4 is not finished, I have 353.98 as my target for wave 4 bottom.
- If we break out of the descending red channel, we know that wave 5 is under development
- My target for wave 5 peak is ~477-481.
Update: we broke out of the descending channel, indicating that the bottom for wave 4 was in. Right now, we are in wave 4 of (C) of 5 of c of (III). Based on the structure developed so far, and the Fib ratios, I am lowering my target for wave (III) peak to ~457.
