DOW JONES - Wave Revision - Bearish Scenario
The recovery since the March low has been largely choppy and corrective so it's hard for me to maintain a bullish view.
I am however seeing Red A-B-C in place and working within Red Wave D.
Wave (A) is a weird impulsive move which I have no choice but to label it as is.
That means we are working in the (C) Wave of Magenta Wave A.
I am not fully convinced on the validity of Wave (C) however at this stage this is purely an idea until we see confirmation.
We need to see price action head towards 27100 area to confirm that this is a zig zag.
I cannot think of another possible count for these waves at this stage so lets see what happens next.
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I am however seeing Red A-B-C in place and working within Red Wave D.
Wave (A) is a weird impulsive move which I have no choice but to label it as is.
That means we are working in the (C) Wave of Magenta Wave A.
I am not fully convinced on the validity of Wave (C) however at this stage this is purely an idea until we see confirmation.
We need to see price action head towards 27100 area to confirm that this is a zig zag.
I cannot think of another possible count for these waves at this stage so lets see what happens next.
Please LIKE and FOLLOW to get notification of updates and future posts.
