A downwards swing was expected to continue. Members were warned that within this consolidation price should not be expected to move in a straight line. The whipsaw today is a good illustration of risk within consolidations.
Upwards movement was expected to continue, but members were warned that when price is within a consolidation it does not move in a straight line. Strong downwards movement today remains above support.
Price reacted downwards off the trend channel on the hourly charts and has bounced up from support at the lower edge.
Again, price has moved lower as the main wave count expected it to. A breach of the channel adds a little confidence, but the confidence price point has not yet been passed. Alternates should still be considered.
Price has moved lower as the main wave count has expected, but it has still not broken out of the channel nor passed the confidence point. Alternates are still considered.