Mid term correction on CSX
A long term cycle ended. Its correction is in progress. Developing a double combo. First a flat ABC followed by a fast bullish X wave to connect both corrections. All this actually doesn't really matter.
What it does matter, is the second combo. It is a zigzag where we can see a 5 waves bear cycle that should be the A wave. We can expect a B wave with 3 wave that seems to be a bullish zigzag. Right now it looks like 5-c within B about to start.
Target of this last wave (v)-c-B would be around 31.43 (30.5 would be enough too) but this trade will be shorting the C. Thus, this trade will be active on confirmation point breaking the extreme price (iv)-c-B (red line)
What it does matter, is the second combo. It is a zigzag where we can see a 5 waves bear cycle that should be the A wave. We can expect a B wave with 3 wave that seems to be a bullish zigzag. Right now it looks like 5-c within B about to start.
Target of this last wave (v)-c-B would be around 31.43 (30.5 would be enough too) but this trade will be shorting the C. Thus, this trade will be active on confirmation point breaking the extreme price (iv)-c-B (red line)
Order cancelled
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.