Been speaking about a 5 wave decline which for some time was not clear on the hourly chart.
Its been my contention that wave C ended in a triangle at the top and so wave e of C truncated
at 5317. On that basis a clear 5 wave decline ended today on the hourly charts as shown.
Each leg breaks up perfecly into 5 waves internally and chanelling technique discribed
So unless this low breaks we should
have completed wave 1 of 3 down. Wave 2's often retrace a lot upto 61.8% which can
give us upto 5137
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