Following the idea of a terminal diagonal triangle in wave C of the second downward zigzag (which itself doesn't look very clean), the current formation could represent an initial diagonal triangle, which is still missing two waves.
If this initial diagonal triangle structure is confirmed, then after its completion, we can expect a corrective move downwards with a leading impulse. It is precisely this leading impulse downwards that could provide an interesting opportunity to open a long position.
If this initial diagonal triangle structure is confirmed, then after its completion, we can expect a corrective move downwards with a leading impulse. It is precisely this leading impulse downwards that could provide an interesting opportunity to open a long position.
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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.