Overview: WHAT A DAY! in the update of yesterday, I had the idea that we are in wave (I) of c of Z. The price was following our expectations of the structure so well in the past few days that it prevented us to consider the other possibilities. Today, the count got invalidated.
Update: now, I see that we are still in wave b of Z, developing as a double zigzag. We are in wave III of (c) of b.
Note that the other possibility is that market has bottomed (for now I consider it as a case of very low probability). Either case, we will run to the downward trend line and the reaction of price to that zone is the key to decide.
Update: now, I see that we are still in wave b of Z, developing as a double zigzag. We are in wave III of (c) of b.
