The current count is under scrutiny due to VRA surpassing previous highs unexpectedly.
This development challenges previous assumptions. My current hypothesis suggests that we're witnessing Wave 5 within Wave E, marking the final corrective phase of the entire correction cycle.
While my recent success in predicting the latest drop might seem fortunate, the manner in which it unfolded, resembling a zig-zag pattern, deviates from the typical downward movement of Wave (C). Instead, it resembles the conclusion of a Wave 4 correction. Initially, my target lies in breaking the highs around 68,250, potentially forming an inverse head and shoulders pattern, which is intriguing.
However, within the broader context of a head and shoulders pattern, this move would only contribute to the development of the right shoulder.
This development challenges previous assumptions. My current hypothesis suggests that we're witnessing Wave 5 within Wave E, marking the final corrective phase of the entire correction cycle.
While my recent success in predicting the latest drop might seem fortunate, the manner in which it unfolded, resembling a zig-zag pattern, deviates from the typical downward movement of Wave (C). Instead, it resembles the conclusion of a Wave 4 correction. Initially, my target lies in breaking the highs around 68,250, potentially forming an inverse head and shoulders pattern, which is intriguing.
However, within the broader context of a head and shoulders pattern, this move would only contribute to the development of the right shoulder.