Hey @srezz !! I think ABC for bigger wave is done and the current wave is the retracement (wave 2) of 6k-11800 wave 1. currently it broke 0.618 fib level nd should be headed to atleast 0.5 or 0.382 levels which should be around 8850 and 8173. What do you say?
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That's the problem with EW - you always have a multitude of plausible counts, especially in corrections. That is the reason I don't rely on EW and prefer volatility implied targets. I need to see today's close.
Agreed. Also, the way trend lines are converging on daily chart I think coming week could be highly decisive for price directions. If my EW count is correct then this mini bear phase should be over by 1st week of march.