Inside this wave Y we have another wxy correction. We are now at the point where inside this wave Y, the waves w and y are equal. This falls together with wave Y being 0.764 the size of W. There is a good possibility that we have topped. It is also possible that price will go and test the 100% fib extention of W anyway. Remember to look for the trendline break to increase the odds that the uptrend is over or paused.
Monday, January 24, 2011
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