Thinking out loud:
I wouldn't be surprised IF this drop turns out to be a sub-wave-5 that at last completes the inner-wave 3.
If so, this drop is not the inner-wave 5 of 5 and therefore is not the expected bearish continuation.. This drop could end somewhere around 1.0340/50 to complete inner-wave-3... Only afterwards, the inner-wave 4 might begin to push price back up. Weird, but right now, with such an early drop long before FED data, it looks like that!
Time will tell...
I wouldn't be surprised IF this drop turns out to be a sub-wave-5 that at last completes the inner-wave 3.
If so, this drop is not the inner-wave 5 of 5 and therefore is not the expected bearish continuation.. This drop could end somewhere around 1.0340/50 to complete inner-wave-3... Only afterwards, the inner-wave 4 might begin to push price back up. Weird, but right now, with such an early drop long before FED data, it looks like that!
Time will tell...
Focus only on what truly matters!
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