A series of 3 waves can be detected and it has led me to 2 possible scenario's:
We could be in a wave 4 of larger degree and gearing up for one more push up, or we are in the beginning of a bigger downturn and are forming a leading diagonal. On the daily chart we can see that after the bottom at 1.25 wave A was in 3 waves and wave B was in 3 waves, that means a 3:3:5 flat could be forming and we would then see another wave up. However if wave C is in 3 waves as well we could be in a diagonal correction of larger degree and we would be looking for a bottom at 1.26 again. Both scenario's (amongst others) are possible.
My favorite for now however is that we are now in a wave 4 and are looking for another push up, however 1.3700 needs to hold for that to happen. A break of 1.3700 would probably put us in a leading diagonal.
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