Here is my analysis of that wave. It looks like a 5 wave to me. Nice symmetry between wave 1 and 5 (same height), steep wave 3. I can't see how I could make it a 3 wave move.
It is important what the peak is as it changes everything else after. You have it as B, so then you would expect the C wave to be 5 sub waves and then the next move up. So you have 2 options, and ending diagonal and an impulse. Neither of those fit. I've tried a lot of different scenario's and they break the rules, but the one I posted, doesn't break any.
So my peak is (5), so I'm expecting an ABC or WXY or WXYXZ. That leaves a lot of options in the downward movement, and quite frankly you need it because that downward movement is quite complex, it is only the WXY combo that describes it correctly at this stage. Now, I don't rule out it being a double combo WXYXZ, but I really don't care because the up trend is significant enough to make some good money on.
That said, I don't think a double combo is on the cards, there is going to be too much good news coming out I believe.
AVZ Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
