UPDATE below.

The current move fits best as an impulse wave. If correct, this leaves us with these two counts:

It's getting harder and harder to believe what I see...

UPDATE 20.02.2020: Over night the count changed from impulse to correction.

The question now is whether the correction is done or not, because this wxy pattern with an overshooting b, could be wave 2 or 4 or A. The situation is unclear and we have to wait for more price action.

If it is 2 or 4, we will see new highs above 10500 in a few days. I bought a small trading position (long) this morning knowing that there could be another substantial dip to 8500 (thats why it is only a small position).

If you think this to be useful information:


Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.

Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...

Have a nice day :-)

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