Wave e, was adjusted to the lower trendline of the wedge pattern. This still fits our corrective phase and would look to higher moves. Whether the move to higher highs is a 5th ending wave remains to be seen as EW is ever changing. Our ST remains to be to the downside and has not changed. Even though I believed that higher prices are to come, the ST kept us in check of what the trend currently stands. So my trades are only done when my sentiments and my analysis are in sync.
MT: UP
ST: DOWN
PA: NA
The Bearish alternative is that of what I spoke of the last few days. The sub-division of those waves are the only way the bearish alternative works. Until then, the overlapping nature of the pattern should be treated as corrective before a resumption towards new highs.
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