We`re at the spot and its all up to the FA now. great results and we should see another 5 wave rise taking price back above this ABC correction....ABC `s typically go all the way back down to the low of wave 4 of the previous up trend..this explains the deep retrace here (786%) rather than the more common 50% or 62%..and also the severe macd divergence because wave 5 was the longest wave up we had further to go down to reach bottom of wave 4...often W3 is the longest and so the ABC only reaches the 50% or 62% Fib retrace level..see how we go from here..
We`re at the spot and its all up to the FA now. great results...
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