I've been looking at Tony Caldero's site today, and I think he has it right. A failed fifth! Like he said, it's fitting for P2 to end with a failed fifth. I was hoping for an ED but this works for me.
We will see, but I with this scenario the Fibonacci Extension works out to 1002.68
It's probably six of one and half a dozen of the other, because the 1025-1040 range stands as the retracement range. But I like Tony's failed fifth.
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WOW, very interesting, that wave is definitely a five count!!
ReplyDeleteIt's a possible count but I prefer counting it as (wave ii).
ReplyDeleteTake a look at my recent update, and tell me which way looks best to you.
http://1.bp.blogspot.com/_8YjxI62OxxY/Ssop9bLX4VI/AAAAAAAAByU/9mgsQGrHWec/s1600-h/2009-10-05_1014_Correction.png