General Overview for 26/01/2014:
There are two possible
scenarios here and the difference is in shape of the corrective wave: it
can be either a ABCDE triangle wave 4 black OR an ABC Irregular Flat
Wave 4 black. When the correction is completed, one more low is being
expected to complete the overall higher time frame cycle degree.
lower time frames, the main count is in favour of a triangle count and
this is th main count now. The alternate count is a 1-2,
(i)-(ii),(1)-(2) impulsive scenario for wave C of th Irregular Flat.
1311 – 1321 – Target level for wave Y.
1352 – Supply Zone
1231 – Invalidation line for purple impulsive count.