G'day

The double zigzag became a triple zigzag, I posted this on twitter as soon as I noticed this :

I am truly sorry but I have not always time to write a post on this blog, but if you like my content you should follow me on twitter for some extra updates from time to time.  Main indication for the extra zigzag was that there was a flat wave after the completion of Y.

Anyways, the X-triangle pointed to a target of at least 0,405 - so yeah, I could have played this downmove a lot better.  I have to improve and use my count skills better, that's a task for the future. 

So enough talk, let us look at the triple zigzag now that it completed :

The 2nd X was a flat wave, a of Z started with a diagonal, this made it quiet difficult to read. If you do the measurement you'll find out that every zigzag has about the same length of about 18 cents. The 3rd zigzag was not uglier then the 1st, but it took less time and because of that it felt uglier. As you can see above, these zigzags count perfect.

Triple complete. Is this the end of the decline? 

Maybe.                                                                Maybe not. 
We'll get at least a bigger bounce from here. But it is possible that we'll get more downside afterwards, but that is optional and not guaranteed. 

I did change something to the big picture :

Well something that was bothering me was the size of the zigzags.  From the April '21 high we had a huge decline (orange W) followed by a huge bounce (a flat wave for orange X). 

The decline that followed was a less big triple zigzag and the bounce (triangle) was also a lot smaller, this indicates to me these zigzags are a lower degree, green colour. So this means that the recent triple completed the Y on green degree. So optionally there could be a Z of green degree to complete Y on the orange degree, but if so then the current bounce would be an X of green degree.... 

Sorry for the complexity, but it is what it is.... fact is that only strength can confirm a bottom.  It's even possible the orange double zigzag becomes a triple.

But it is also possible that we have bottomed at 35 cents this week, but this will have to be conformed by strength in the next few days & weeks.

In case we are in an expanding diagonal and the 4 completed this week, then the "5" has to end before August 25th, that is because the 5th wave has to stay shorter then the 3rd (105days).

Personally I have accumulated on that third zigzag, I hope this is the bottom from where we will moon, but I also realize that we could see lower prices after a bounce.... so it's good to realize this and don't panic if we turn back down at some point, just see it as an opportiny to buy at lower levels.

Good luck!