A strange rally in Ether?
This rally is difficult to count. Overall it can't (yet) be called impulsive, so I suspect it's wave B of a correction. My best guess so far on counting it seems to be to call the move from the A wave low a double zig zag with the final (?) C wave being an ending diagonal. I would expect the 5th wave of the diagonal to throw over the top of the pattern slightly - which would be normal. If correct, this would mean it should be followed by a 5 wave move to the downside to complete the correction in wave 4 (of several degrees higher). Maybe a final wave 4 low of around 11.50?
Like I said I'm finding this difficult to categorise....does anyone have any other thoughts?
Like I said I'm finding this difficult to categorise....does anyone have any other thoughts?
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.