8 August 2019

Wave 2 Near Bottom?

Wave 2 appears to be an expanded flat, with Subwave c about to be completed. The wave count will be invalidated if Subwave c drops below 3104.03 which is the start of Wave 1 (red). It is a rule in the Elliott Wave Principle that Wave 2 cannot drop below the start of Wave 1. 

Looking at the structure of Subwave c (brown) of Wave 2 (red), it is likely that Minor Wave v (brown) will be roughly the same length as Minor Wave i (brown). This means that Wave 2 will end above 3104.03. We shall see.

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