Overview: let’s review the update of Feb. 18th:
Update: there is not much to change on the count, except the fact that wave b of flat decided to develop as a more complex structure (so take more time), developing as a triangle. I see wave (e) of b completing soon, which will lead to wave c of 2.
For now, I have the 145 area as a potential bottom for wave 2 based on the retracement of wave 1, its volume profile and the gap fill.
Again, I have to remind a note on my update of Jan. 28th, which is still very valid: “The alternative scenario is that we are [were] in a second wave (X) and later in the year another zigzag follows to new lows.”
- Wave 2 to develop as a flat.
- Waves a and b of flag have been completed.
Update: there is not much to change on the count, except the fact that wave b of flat decided to develop as a more complex structure (so take more time), developing as a triangle. I see wave (e) of b completing soon, which will lead to wave c of 2.
For now, I have the 145 area as a potential bottom for wave 2 based on the retracement of wave 1, its volume profile and the gap fill.
Again, I have to remind a note on my update of Jan. 28th, which is still very valid: “The alternative scenario is that we are [were] in a second wave (X) and later in the year another zigzag follows to new lows.”
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