In case we see an extremely strong drop overnight, i thought id share other possibilities if the bottom support line from my primary count is not to hold on this Fourth Wave.
IF this support is not to hold we could see other Alternate scenarios play out. Here are two possibilities :
Bearish Alternate One : Small ABC Flags.
Previously we have seen a similar bear flag pattern play out with only 3 waves, where post flag we saw our drop down to 6 k. If the support does not hold the 7 k range is an easy target.
Bearish Alternate Two : Larger ABC Correction.
Although id love to be ruling these lower lows out, we cannot do so until we see a clear confirmation of an uptrend. Looking at the bigger picture we could see a much larger ABC correction unraveling where the 6k low was simply just an A wave. This is where we could possibly see the talked about "lower low" .
ANOTHER KEY SUPPORT TO WATCH IS THE H&S NECKLINE. IF THIS IS BROKEN HELL COULD BREAK LOOSE!
Although these scenarios are not preferred, it is better to be aware than stressed and anxious. If we are to see that lower support line break re - assessment will be done and we can see where we are heading next.
Off to bed now and wont be able to post till much later tomorrow, so remember THE SUPPORT MUST HOLD!!!!
Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!