REGARDLESS OF EROGAN‘S DECISIONS , AND WHETHER UR ONE OF HIS SUPPORTERS OR CRITICS, BUT HERE OUR INTERPRETATION IS BASED ON THE BASSIC PRICIPLES OF TECHNICAL ANALYSIS ONLY. FROM MY EWP PERSPECTIVE I CAN SAY THAT THE USD/TRY ENDED ITS LONG TERM UPTREND AT 18.6 AS A PRIMARY SCENARIO, SO THE RECENT DECLINE IN FIVE WAVES DOWN WAS THE FIRST LEG OF THE CORRECTION AND THAT SUGGESTS THE CORRECTIVE MANNER WILL BE ZIGZAG WAVE (5-3-5) AND JUST FINISHED THE FIRST SEGMENT ONLY AS WAVE A (CIRCLE IN RED) FOLLOWED BY A TEMPORARY BOUNCE TO 13.5 OR 15 THEN ANOTHER MOVE DOWN TO POSSIBALE TARGET AT 7.25 OR AT 5
SOME MAY DISAGREE WITH ME ABOUT EXTREM MOMONETUM AND VOLUME AND ARGUE , THAT THE USD/TRY IS IN THIRD OF THIRD THAT THE STRONGEST WAVE EVER IN AN IMPLUSIVE ADVANCE, THIS IS A CONSIDERING OPINOIN ,AND I PUT IT AS ALTERNATIVE COUNT, BECAUSE I SATED EALIER THAT THE WAVE WIL BE A ZIGZAG PATTERN I MEAN THAT IS NOT COMPLETE YET , AND LOOK AT THE FIRST LEG RETRACED OUT MORE THAN 61.8% OF THE PRIOR WAVE(8.27-18.60) OR EVEN WE ASSUMED THAT THE WAVE STARTED AT 5.12, IT SHOULD IN BOTH CASES OVERLAPING WILL OCCURE BETWEEN THE FOURTH WAVE (CURRENT DECLINE) AND THE WAVE ONE REGARDLESS OF WETHER THE TOP OF WAVE ONE AT 8.82 OR AT 8.60 ACCORDING TO THE BEST COUNT
BUT MY LOGICAL INTERPRETATION FOR THE CASE OF HIGH MOMENTUM AND HIGH VOLUME THAT THE FIFTH WAVE IN THE HIGHER DEGREES OF IMPLUSIVE ADVANCE (ABOVE INTERMEDIATE DEGREE) CONTAINS A LARGE AMOUNT OF SPCULATIONS, IN ADDITION TO THE FACT THAT MOST OF THE HERD ENTERS UNCONSCIOULY AT THIS POINT TO MAKE UP FOR WHAT THEY MISSED(FOMO), RESULTING IN A SURGE IN VOLUME AND MOMENTUM
