FCPO WAVE 2 CORRECTION PROGRESS
Key Level = 1940
From our previous analysis:
“Expecting a 3-structure movement in corrective fashion to complete correction wave (ii)
from my personal opinion, I would like to see the end of wave (ii) at the area of 2093 – 2026”
Wave (ii) unfold into zig-zag pattern and we can see a clear 5-structure movement for wave C toward our target area.
With the idea of diagonal triangle wave (5) to end wave C and (ii), there are still left some room for throw-over below 2100 area. Expecting a sharp movement toward 2217 if everything goes according to plan.
Our key level is set at 1940, which is the starting point of wave 1 and as per Elliott rules “Wave 2 never retrace more than 100% of wave 1”. This wave analysis remains valid as long as our key level hold.
Let’s see what the market will offer us this week.
Happy Trading.
From our previous analysis:
“Expecting a 3-structure movement in corrective fashion to complete correction wave (ii)
from my personal opinion, I would like to see the end of wave (ii) at the area of 2093 – 2026”
Wave (ii) unfold into zig-zag pattern and we can see a clear 5-structure movement for wave C toward our target area.
With the idea of diagonal triangle wave (5) to end wave C and (ii), there are still left some room for throw-over below 2100 area. Expecting a sharp movement toward 2217 if everything goes according to plan.
Our key level is set at 1940, which is the starting point of wave 1 and as per Elliott rules “Wave 2 never retrace more than 100% of wave 1”. This wave analysis remains valid as long as our key level hold.
Let’s see what the market will offer us this week.
Happy Trading.
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