Foreign [Music] In the last video I told you that I Would like to see one more low possibly Down to 12 and a half cents now that Hasn't happened yet Um it's not entirely clear if this is Still in this correction down yeah but The move down is pretty much full Which means this yellow wave pattern the Five wave move down here doesn't need to Go any lower I mean even in this fifth Wave we can now look at five waves so We've got here a possible one two three Four five however It could also be oops it could be and That is where you know sort of the Unknown comes in the the uncertainty in These markets and it could be that this Is only a one two Three A b c and wave four and we come down Once more in wave five that would be Ideal to be honest to come down once More because it would hit the 12 and a Half cent level Um which is the 78.6 Fibonacci Retracement level and also since the low Here we haven't really seen anything Substantial yet to the upside Um however this could be a small five Wave move to be honest yeah Um we won't really know that until we Break a bit higher and move about 15 and
A half cents would really confirm that a Low has been made here Um I think the very first signal that you Can get that a substantial low has been Matey in wave 5 of wave C Um of Wave Y of wave two Um is that if we break Above This Descending trend line we've got three Touch points you can see how the price Actually four touch points you can see How the price reacts nicely to this Trend line and the break above that Would I in my opinion be the first Suggestion or indication for an onset And the beginning of this third wave to The upside Target for the third wave Talked about that yesterday around 45 46 Cents if we start from here however it's Sort of turning in the middle of nowhere It would be ideal to go down to 12 and a Half cents and then turn around there Have a solid flip level support and Reversal at the flip level But it doesn't need to do that yeah Sometimes markets turn around without Making that last low Um especially if generally for example a Little bit of bullish sentiment comes in Um or if we for example are very much Oversold and I mean it has now recovered A bit but Chili's was here on the four Hour chart if I make if I open those Indicators down here and Chili's was
Quite a quite a lot oversold Um yesterday day before yesterday on the 12th so really really low on the four Hour RSI and I told you in a video on That day that we should expect a Recovery shortly which is happening now But not very strong yet so I'm inclined To say we might get one more low But if we get above the trend line yeah It would already be an indication that The low is in we're moving higher in a Third wave and what you need to know is That this move down is pretty much full Yeah from an elite wave point of view We've got five waves down in white one Two three four five and in the fifth Wave we've got five waves down as well Yes one more like down could be Happening but this is really in the Micro counts I mean on the micro level Really you you also have one two three Possibilities it is what it is right but Um as long as we're holding as long as We're holding overall above 10 and a Half cents that's fine Um but ideally we don't want to drop Below 12 and a half cents and that's Pretty much what I can tell you about Chile so hopefully you like the update If you did please hit the like button Leave a comment and subscribe and if you Really like the content then please Check out the channel membership thanks A lot for watching bye
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