Another day and another lens to look through. Price is pushing on up to that monthly pivot that I have been going on about all month, seemingly. As far as I can tell, we are in the 5th leg in the 5th wave and either in the 3rd or 5th wave inside the ending diagonal. So, somewhere around here or nearer the monthly pivot, anticipate a pop which would likely trigger a fall of equal magnitude in scale to the expanding diagonal formation from its origin or the prior drop from the top. I have marked up a 'b' count for the expanding diagonal this morning as an alternative to the leading formation yesterday. Either way, a test of the low would be a great end to the month or beginning of the new!
Please make sure you have read my disclaimer! This is a personal journey into self-tutoring in technical analysis. Did you read that Disclaimer yet?
Disclaimer
Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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