That was a wild ride .... But as per my previous chart completey expected ;)
Everybody is asking is this over or do we have more downward pressure ?
So as to hopefully clear it up I have broken the C leg down into its 5 waves (green) and then the 5th wave of the 5th wave wave (blue) i.e the sub wave of 5 or as I like to call it ( the killer blow :D )
As long as we hold @ 265+ we can see a move back up to 320-340+ and we have not broken the sequence as per the purple 5 wave up
If we break below 255 all bets are off and it will be armagedon as we will be heading down towards 200+ support
I hope this brings some clarity but im now long at 265 with a SL @ 258 with Targets (T1) 279 . Dont be surprised for a sharp retrace on wave 1 (purple) as the market tries to digest and comes to grips with the shell shock that just happend and all the bulls who where long @ 280 .
I m sorry for your loss :S
Everybody is asking is this over or do we have more downward pressure ?
So as to hopefully clear it up I have broken the C leg down into its 5 waves (green) and then the 5th wave of the 5th wave wave (blue) i.e the sub wave of 5 or as I like to call it ( the killer blow :D )
As long as we hold @ 265+ we can see a move back up to 320-340+ and we have not broken the sequence as per the purple 5 wave up
If we break below 255 all bets are off and it will be armagedon as we will be heading down towards 200+ support
I hope this brings some clarity but im now long at 265 with a SL @ 258 with Targets (T1) 279 . Dont be surprised for a sharp retrace on wave 1 (purple) as the market tries to digest and comes to grips with the shell shock that just happend and all the bulls who where long @ 280 .
I m sorry for your loss :S
