Why explain anything (with the post below), show it by chart. This is the war of the alternates. Chart shows correction of A wave from the upcoming ABC wave. Meaning, it should work with untrending B upwave next and I am long from this 129,00 bottom. But market want to hold it in here because it´s also down movement as 50% leaving W3 upside options open.
3 X longs still from ~129,00 and I tend to stick with them now, perhaps 50% correction on the tape to the upside as B wave. There´s actually still room to retrace 0,886 if chart prefer.