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pennies2007

03/11/16 1:44 PM

#138079 RE: Heavyweight #138077

Geez, just kill my dreams why don't ya...LOL!

pennies2007

03/11/16 2:00 PM

#138081 RE: Heavyweight #138077

This is the best count I have so far, Heavy. The last 5 waves down on the 4 hour chart would be a minor Wave 1 and this push back up to make new highs would be Wave 2.

So we still need to see some kind of 3, 4, and 5 pullback to set up for another leg up later.

The expanding diagonal I mentioned is highlighted at the top with 5 waves completed. Room for one more quick high and that's about it. The 5th wave push in these things is normally fast and furious.

Of course, my wave counting has been crap the last couple of weeks so who knows...LOL!

Overall, still a big ABC pattern. EW requires at least a 50% pullback of a typical zig zag before another leg up can occur so I'd still expect a drop back to between 0.71 and 0.72.

AU 4 hour chart...