Primary EW Count by Degree
We do EW analysis by degree.
We are looking for a (5) of P.5 to new ATHs off the June low. (Ideally 5400+)
We know that move should be five wave, 1-5.
We know the appx most common Fib proportions for those 1-5.
That puts our target for 1 in the ~4350 region.
We know 1 should be 5up, circle i-v.
We know ideal Fib proportions for those moves.
We only got an "(a)(b)(c)" move up off the June low into the lower end of the appx zone for circle i of 1. This implies that wave 1 is filling out an LD.
In an LD all the subwaves are (a)(b)(c) moves, even i, iii, and v.
Since we are dealing with "(a)(b)(c)" corrective structures there is more room for variability inside that, because a-waves can be EITHER five wave moves or three wave moves and because c-waves can be EITHER impulses or diagonals.
We know the normal Fib targets for circle iii based on the i-ii in place and we also know where the (a) of that USUALLY targets. But within that structure we are trying to follow the twists and turns of a highly variable micro structure.
*Note the charts posted this morning only show detail for the blue (which is not as an alt color it is mu usual color coding to highlight a diagonal),and they show a slightly different green (a)-(b) should re fail to hold the micro blue 4.