Gday all

In my last update I was counting a diagonal, it looked like the diagonal completed on black Friday, but it was then followed by a small bounce and some more downside on Sunday. This situation has confused me but I think I found the solution for this problem, there was no diagonal after all. Instead there was a triangle for "X" followed by five waves down, this count makes more sense.

The five waves down are probably a of Y, the current bounce is probably b of Y (a flat), so I expect another downleg to complete "Y".

It remains to be seen how low this leg will go, there is not much room to go lower in the triangle scenario because we cannot travel below (a). A slight break of (a) is allowed in a barrier triangle though. It is also possible that the c leg will only provide a slightly lower low or it might even truncate.

But yeah, we have to monitor closely IF the "Bigger Triangle" remains a possible scenario. And if not, I will have to come up with a plan B.

That is all for now.

Xenne