Thursday, February 24, 2011

No wave 3

Two things that made me go for the alternative count, no price explosion which is needed in a wave 3 and the rejection of the 100% fib extention. The complex price action with a lot of overlapping waves is much more common for corrective waves. It is still uncertain however, where this fits into the bigger picture. Like i said in my last post, this could be a of Y or b of X on a bigger degree.

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