Motive or corrective box?
Updated
Probably everyone ask question if recent compression leads to upside or downside. Unfortunately price action in the box have characteristics of both. For Bulls you can count 3 sets of 1-2s and Bears can find corrective ABC where circle a is equal to circle c and A is equal to C.
We need to ask how both price actions can be explain on broader scoop.
The Bear scenario calls for fifth down from current level to finish C wave of Flat. At the same time reaching 2nd wave of extended 5th, typical retracement level for 5th extension.
We need to ask how both price actions can be explain on broader scoop.
The Bear scenario calls for fifth down from current level to finish C wave of Flat. At the same time reaching 2nd wave of extended 5th, typical retracement level for 5th extension.
Note
Now we are testing Bulls camp Leading Diagonal or 1-2sNote
So by now we know Leading Diagonal option is off the table.Wave 4 (the box) is rather big compering to wave 2 but 4 is fib 1.68 of wave 2. so there is proportion.
another question is if wave down from the box is 5th or maybe just 3rd.
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