Mar 9, 2016
If the idea for wave X is right I expect it to take similar shape to the one shown on the chart. It should burn time so that traders forget about the pain from the two sell-offs and stop talking about bear market. Very choppy price action... curious to see if it play out:)))) Short term I expect spike higher after the ECB meeting and reversal. Than lower to MA200 hourly until FOMC next week (20 day cycle low). Than the resistance zone to be tested and March to finish green... I can not say with higher high or lower high before seeing how the moves before that develop. April should start lower to finish wave B and 40 day cycle low than one more rally in May to finish X. Fibo and support/resistance levels converge very nice, which is usually a sign that this is the right pattern.