Day chart label correction

Based on last nights movement, a relabeling of he day chart is required. The beauty of wave theory is, soemtimes, even when you are wrong you can turn out right. It is looking like (iii) was completed on Mar. 1st as a 9 wave motive wave. This is a motive wave with an undefined extension. Now we are in the (iv) wave correction which should turn out to be a flat. I believe we are very near the a wave completion of that (iv) wave. Since a wave was a 3 wave movement, I would expect the b wave to be a flat or a triangle. A flat is the highest probability. and expanded flat is the highest. this scenario would have price making a new low below 1.4780 before moving long again. We will just have to wait and see. The bottom line is we will likely be trading in the 1.5300 to 1.4700 range for weeks to come.