Preferred EW counts are marked in Green.
Last and final wave 5 might have started from 128.55. This 5th wave should be in 5 sub waves.
1st of 5th wave might have completed at 134.10. Now 2 EW options are in play
a. 2nd of 5th completed at 132.05 => In this scenario, current sub waves of 3rd of 5th should make new high without breaching 132.05
b. 2nd of 5th is irregular correction as 134.10-132.05-135.30-xxxx.
Alternate EW Counts are marked in Red.
There is possibility that 5 waves might have completed at 138.40 from the lows of 106.75.
In this scenario, look for the retrace values for the rise from 106.75 to 138.40. 122.60 and 118.80 are 50% and 61.80% whereas 113 is 80% retrace values.
The current waves are then corrective in nature with 3 waves as ABC where A ended at 128.55 in 3 sub waves and currently wave B is unfolding.
In this scenario, follow retrace for the fall from 138.40 to 128.55 and may enter in short at 61.80% keeping 80% retrace value as SL.
50%: 133.50; 61.8%: 134.65; 80%: 136.40
Last and final wave 5 might have started from 128.55. This 5th wave should be in 5 sub waves.
1st of 5th wave might have completed at 134.10. Now 2 EW options are in play
a. 2nd of 5th completed at 132.05 => In this scenario, current sub waves of 3rd of 5th should make new high without breaching 132.05
b. 2nd of 5th is irregular correction as 134.10-132.05-135.30-xxxx.
Alternate EW Counts are marked in Red.
There is possibility that 5 waves might have completed at 138.40 from the lows of 106.75.
In this scenario, look for the retrace values for the rise from 106.75 to 138.40. 122.60 and 118.80 are 50% and 61.80% whereas 113 is 80% retrace values.
The current waves are then corrective in nature with 3 waves as ABC where A ended at 128.55 in 3 sub waves and currently wave B is unfolding.
In this scenario, follow retrace for the fall from 138.40 to 128.55 and may enter in short at 61.80% keeping 80% retrace value as SL.
50%: 133.50; 61.8%: 134.65; 80%: 136.40
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