As I write this I see a huge spike up to my target of 4464, OK it is 4666, darn, have to work on precision. LOL
But the move down now only looks corrective. Will go higher, maybe only a little bit for an overthrow over my base channel.
Should stop soon or I have to change my count complete. I have room up to 4517.
This high retracing wave makes me an headache.
Losing my conviction that my count is right. But that may be the intent of a wave 2 - doubt.
Have to re-access the possibilities.
What stays is: the moves up from 1.18 are corrective.
In doubt: the moves down from 1,6x and 1.5x - are they corrective or impulsive? I now have them as impulses.
Right now I examine following scenario:
The move down from 1.6 was an impulse. Call it wave 1
The move up to 1,5x was wave A (wave A of a flat, therefore no impulse)
The move down from 1.5x was wave B
The move up from 1.18 is now ongoing and may be an ending diagonal. It looks like an impulse, but structure is corrective and we have an wave 1 and 4 overlap.
This ending diagonal expands.
A good target for this count would be 1.4648. That is a Murrey Math 8/8 target on daily.
And around this target we have several fib targets.
E.g.: the 61.8 retracement of the above mentioned wave 1 or the 100% fib extension from wave A (wave A = wave C)
For now that is only an idea, I have to research especially wave B (if it is countable as a corrective wave)
We will see......
Have all a nice weekend,
See you all later, hopefully,
Markus