DislikedBull at top with likely consolidation breaking 200ma in h1 tf , min abc up or impulse 3 4 5 next after it success bull here , above 3597.chanel may not work as already disresected breaking down .
fontuIgnored
Hi Fontu,
I believe we should not try to count an impulse move up (5-3-5-3-5).
It is tempting, everytime, but we will be on the wrong track.
Because we had since the low at 3427 a complex correction, and all the moves had to be counted as ABC zigzags (5-3-5)
Prechter labels such complex ABC as overriding labeling WXY or WXY(x)Z moves.
Since we can assume that it is really such a complex correction with only ABC zigzags (I can nowhere count 5-3-5-3-5 impulses) we may make a plan for this last upmove (wave Y) in a complex ABC-fashion, eg. ABC-x-ABC-x-ABC
On hourly I can count ABC-x-ABC-(ongoing, likely x ready and up in A)
Normally we do not see more than 3 connected ABC
Best to you,
Markus