The market is currently in a complex correction which carries or bears three wave structure (WXY waves). As we see, wave X is about to be completed on only if the red line gets broken below. The last wave which is the wave Y is set to carry three sub waves with the 5-3-5 formation of its sub waves.
COMPLEX CORRECTION - WXY
WAVE W - 5 WAVES
WAVE X - 3 WAVES OR TRAINGLE
WAVE Y - 3 WAVES
COMPLEX CORRECTION - WXY
WAVE W - 5 WAVES
WAVE X - 3 WAVES OR TRAINGLE
WAVE Y - 3 WAVES
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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.