Normal
The XAO has broken thru the previous 4th wave triangle and is sitting in the middle of the 4th of 4th (wave iv) at the 6710 level, and it is usual to expect some consolidation in these areas.Based on an initial view, I have temporarily labelled wave (i) and (ii) with wave (iii) underway. There could be further declines since the unfolding wave (iii) down is so far only approx 100% of wave (i) when the expectation is usually 138% or 161%.The decline is yet to break thru the short term parallel channel lines (not shown), that will help confirm a bigger move is unfolding.[ATTACH=full]96597[/ATTACH]
The XAO has broken thru the previous 4th wave triangle and is sitting in the middle of the 4th of 4th (wave iv) at the 6710 level, and it is usual to expect some consolidation in these areas.
Based on an initial view, I have temporarily labelled wave (i) and (ii) with wave (iii) underway. There could be further declines since the unfolding wave (iii) down is so far only approx 100% of wave (i) when the expectation is usually 138% or 161%.
The decline is yet to break thru the short term parallel channel lines (not shown), that will help confirm a bigger move is unfolding.
[ATTACH=full]96597[/ATTACH]
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