[B]Commentary[/B]: As mentioned here yesterday, “the decline from 1.2424 looks more like a 3rd wave than a wave c, thus we are abandoning the bullish stance. Near term, it looks like a 4th wave correction is unfolding.” It is clear now that the 4th wave is unfolding as a triangle.
A thrust lower in a 5th wave is expected. A larger upward correction is expected following a decline below 1.2258 so now is not the time to get bearish (unless you?re looking for a very short term move). [B]Strategy[/B]: None