- Wave A – Zigzag is a three-wave move that makes up a corrective pattern. The corrective pattern generally goes against the initial trend. This took almost a month to form.
- Wave B – Mostly against the initial trend,(bull trap) this Flat Pattern which is clearly a three-wave move appears to be going with the major trend. (a three-wave move at a new high or low in the case of a bear market it will always reverse). Wave B took a little over 4 months.
- Wave C – Ending Diagonal. A five-wave move, moving against the trend. Will this hold its support? A little over two months.
Don’t be afraid to look at the larger timeframe charts. Holds #majorkeys