EOS flat scenario.
In this scenario, I see the bull reaction since December 2018 as a big regular flat.
Guidelines of a regular flat:
• A corrective 3 waves move labeled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B terminates near the start of wave A
• Wave B = 90% of wave A
• Wave C = 61.8%, 100%, or 123.6% of wave AB
We can tick off most of these guidelines.
• Wave A was a perfect WXY but I have to admit that the X fell pretty short of W. However, that can happen sometimes.
• Wave B is a bit difficult to count because I can count this one different but I count it in this scenario as a simple ABC with an ending diagonal. Another thing worth mentioning here is the fact that primary wave B fell short of the 90% fib retracement of primary wave A.
Primary wave C
Now for wave C, as mentioned above, wave C is an impulse that needs to reach the 61.8% fib of wave A. We failed to do that...
The current decline looks to me as a zig-zag down. However, it isn't done yet so this can change during the next couple of hours/days. But if true, there is still a possibility that we can see one last leg higher to $6.28 or even $12.14 to tick of that last guideline.
The only thing we can do is to monitor it very closely...
Guidelines of a regular flat:
• A corrective 3 waves move labeled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B terminates near the start of wave A
• Wave B = 90% of wave A
• Wave C = 61.8%, 100%, or 123.6% of wave AB
We can tick off most of these guidelines.
• Wave A was a perfect WXY but I have to admit that the X fell pretty short of W. However, that can happen sometimes.
• Wave B is a bit difficult to count because I can count this one different but I count it in this scenario as a simple ABC with an ending diagonal. Another thing worth mentioning here is the fact that primary wave B fell short of the 90% fib retracement of primary wave A.
Primary wave C
Now for wave C, as mentioned above, wave C is an impulse that needs to reach the 61.8% fib of wave A. We failed to do that...
The current decline looks to me as a zig-zag down. However, it isn't done yet so this can change during the next couple of hours/days. But if true, there is still a possibility that we can see one last leg higher to $6.28 or even $12.14 to tick of that last guideline.
The only thing we can do is to monitor it very closely...
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