My comments on MarketWatch a few days ago seems an understatement. No matter how fancy your charts are, and how imagiative you could be with attempting to figure out in advance how a complex correction will unfold, you are simpply shooting in the dark. This is why I went to great lengths to explain that whatever I have shown you on the chart last time could all be wrong. In a complex correction we should expect the unexpected. Trading a complex correction should be strictly for those with deep pockets and quick access to the markets.
I am presenting you with another chart, where I have made only a minor change to the count. Instead of the ‘X’ at 1.3002, I have placed a “b’”, which allows me to see a dip down to 1.3105 initially. We could later on go lower still to 1.2953, but I don’t want to discuss that before we see what happens at 1.3105.
Stay tuned! This is your live lesson on how to deal with complex corrections.