Wow, so we are now at the pointy end of this correction or have...

Wow, so we are now at the pointy end of this correction or have we already put in a bottom?

We bounced hard off $2.77 and then respected the .618 fib of the 3rd fractal at $3.01 (hit $3.015 with XT trade), textbook retrace.

For the overall correction It has certainly corrected within Fib guidelines below .5 fib of full wave retrace at $2.83 - TICK

It has gone below historical retrace at $2.89 - TICK

Its retraced 28.8%, $3.89 - $2.77 -TICK

It filled a tiny gap at $2.84-2.85, Not sure I would count that gap but its filled none the less. - TICK

Gap at $2.73 not filled, but its a gammon the daily, not the weekly. It's traded those prices.

From an EW perspective it should have 5 fractals for the C wave, but I've been caught out more than once on not completing these.

We do have the HFY results and guidance update which may be a magnet to hold back, plus macro and geo political.

Key thing is we need to see a trend reversal. For that to come into play we need a higher high. That would be $3.16

So the bottom is in or will be by Wednesday next week IMO.

Buying in the $2.70's and $2.80's will be seen as absolute bargains come end of April IMO.

GLTAH