GKP

Yes it's possible - taken from my previous post below. hope that answers your question....



Either wave C will complete @ the low Major A @88p or make slightly lower low to the previous 4 low – there that number again J @ 64p.

Alternatively this can end up being a failed flat:
occurs when the C wave fails to reach the ending point of the A wave (@88p). the market is so strong, that it takes off before the correction has fully completed – news pending ?

there is clear support in the region of 126-131 or @minor a of A @ 106-113p…. hmmmmm

i would also not discount the possibility of a truncated 5th. i watch and observe.

rgds WS

Hi, new to all this..... trying to learn.

So are you suggesting this may be the rally which gets capped around 161p before back down to a lower low, like the 87p, 104p targets?

Thanks

Yup, that's enough to guarantee wave 3 not the shortest.

161 - 87 = 74 = 97 x 0.764 (give or take a 1/1000th)

161 - 104 = 57 = 97 x 0.588

Interesting...

yep

also

w1 of c =~258 - ~161 = 97p
w3 of c = 228 - 126 = 102p

Me too. There was a hammer on the 4H and it's gapped up off that today.

161p still the number on this.

I've labelled a tentative 3 at yesterday's low....