GKP

261.8 is a supposition; 161.8 is a necessity for it to be 5 waves impulsive. It also needs to have divergence between waves 3 and 5, otherwise it's not impulsive, so we will see. The last three days would definitely appear impulsive in their action.
Wave 4 would ideally be 38.2 of wave 3; and wave 5, I would love to be 1.618 of wave 4. These are not compulsory, merely idealistic, so are open to variation but, if they do, I just bet they vary in a fibo variation.
Have a good weekend over there mate. I just bet it's 'B' cold ....brrrrr!
Take care:)

Hi Diver.

Couple of questions for you: Why are you using the 261.8% Fib extension for your wave 3 target and how did you come by the 50p length for wave 5?

Genuine questions not criticisms...

Sorry, I give up.... you'll have to use the link as the insert file does not want to behave this evening:(

I'll get the right chart in a minute.....duh!

screencast.com/t/nPvzcRW7POQ




In light of the passed few days it now looks like there is a possibility the down-turn is over. In my view we need a break of 276 to confirm this view but, these past few days look impulsive so I expect the chart to pan out as shown ...... please We will then get a further retrace before, hopefully this finally blossom to show its full potential ...... pretty please