Well, I don't know about that but what I do know is that in the short term its pulling back from its highs on the Daily chart and may retest the AIMS Low and meanwhile we may see a nice wave 5 to downside on H1. That wave 5 down should also create some nice M5 trades of which I took one this am. 1.5955 may be retested. Lets see what happens. Here are some pics using The V5.1 (advanced) Template.
|Here we see a nice Wave 3 down and we are looking for a wave 5 down. But see what happens in the next picture|
|We now have a new situation, What we thought was a 5 turned into 3. This happens quite often and I love it.|