Last analysis expected a second wave correction was likely before more upwards movement. There was no correction, and price has moved higher.
The wave count remains the same.
Click on the charts below to enlarge.
Main Wave Count.
Intermediate wave (4) is now over, it lasted 14 days, just one more than a Fibonacci 13.
If intermediate wave (5) exhibits a Fibonacci time relationship it may end in a Fibonacci 13 days (or sessions) on 28th October.
At 1,764 primary wave C would reach equality with primary wave A.
Within intermediate wave (5) no second wave correction may move beyond the start of the first wave. This wave count is invalidated with movement below 1,646.47.
Within minor wave 1 upwards there is no Fibonacci ratio between minute waves i and iii, and if minute wave v was over it too would have no Fibonacci ratio to either of i or iii. This makes it likely price would move higher so that two of these three actionary waves exihibit a Fibonacci ratio. At 1,713 minute wave v would reach equality with minute wave iii.
When minor wave 1 is complete then minor wave 2 should last one to three days. Minor wave 2 would be likely to reach down to the 0.618 Fibonacci ratio of minor wave 1.
Minor wave 2 may not move beyond the start of minor wave 1. This wave count is invalidated with movement below 1,646.47.
Alternate Wave Count.
This wave count requires a lot more upwards movement than the main wave count, and it is very unlikely this structure could be completed by October 28th.
At 1,740 intermediate wave (C) would reach equality with intermediate wave (A). At 1,739 minor wave 5 would reach 0.618 the length of minor wave 3.
If price rises through this first target the next target will be used. At 1,849 minor wave 5 would reach equality with minor wave 3.
At 1,749 minuette wave (iii) would reach equality in length with minuette wave (i).
Subminuette wave ii should move price lower tomorrow. There is no divergence at this stage between this alternate and the main wave count.
Subminuette wave ii may not move beyond the start of subminuette wave i. This wave count is invalidated with movement below 1,646.47.