SW1: Further drill down of Wave 2 (corrective wave) has positively identified a double zigzag (5-3-5) with an intermediate A-B-C wave. Not only has it reached the 76% retracement we are seeing positive divergence from both Stochastics and RSI. I believe wave 2 corrective has now completed, and wave 3 has started.
Wave 3 usually the largest wave of a typical 5 wave structure, measuring between 1.61x and 2.61x of the length of wave 1, which in this instance is 44c. By adding that to the recent low of 26c, the chart measure to a wave 3 target of between 96.8c and $1.41.
Wave 3 usually the largest wave of a typical 5 wave structure, measuring between 1.61x and 2.61x of the length of wave 1, which in this instance is 44c. By adding that to the recent low of 26c, the chart measure to a wave 3 target of between 96.8c and $1.41.