


PlannedTrades
The uptrend is still intact though. We might be in a flat correction.
The overall uptrend on the higher time frames still seems intact though.
Still 200 pip downside with this scenario. Momentum seems to be drying up to the downside on the daily chart though... Hmm... I'll have to look at technical indicators.
We're probably in a wave (X) not a wave (5)... So maybe it will form a double zig zag on a higher time frame, or perhaps wave A of an expanded flat... will post more wave counts that will clarify this.
Bearish bias still in place. Could get a 350+ pip move to the downside next week.
I think an ending diagonal completed on lower time frames - concluding wave ((B)) - so we should be headed back up now. Will post subdivisions of hourly chart shortly.
I can't get a good read on the current wave count. Probably best to just scalp 5 minute charts for now until more price action develops.
Here's a blown up / zoomed-in version of the final section.
I suppose Wave C wasn't complete when I last posted. I think we're in Wave D now. Should get a resumption of the downtrend after the ADP report @ 8:15 ET which should conclude Wave E. Let's see if classic Elliott plays out on this one.
We're either beginning of an A-B-C zig zag, or we're in the beginning of wave of an impulse.