Continuing with the elliott wave count of what had been an interesting fifth wave we see that the after the strong and deep pullback of the diagonal wave 1) appeared a new wave down with great momentum which makes it a very good candidate to be at least part of wave 3) (but for now will keep with the idea of this as a simple third) and afther all this we see now a small 4th wave which retraces (As far as now) 38.2% of the declined by the 3rd.
If price holds below the end of wave 1 the chances are in favor to see the start of the 5th wave could even get as down as the 0.89 because there will be acomplished the ration 100 to 161.8% between waves 1) and waves 2) - 5).
Even when this seems kind of low possibilities because the starting channel, the ending channel tells us a different story: if the turn to the downside gets at the same duration of the 2nd wave, the fail to touch the starting channel could be confirmed by the failure to touch the ending channel.
If price holds below the end of wave 1 the chances are in favor to see the start of the 5th wave could even get as down as the 0.89 because there will be acomplished the ration 100 to 161.8% between waves 1) and waves 2) - 5).
Even when this seems kind of low possibilities because the starting channel, the ending channel tells us a different story: if the turn to the downside gets at the same duration of the 2nd wave, the fail to touch the starting channel could be confirmed by the failure to touch the ending channel.