After having a running flat correction and a 5 wave completion to make wave v, we have completed purple 3. Purple 2 was a rather flat correction, with rules of alternation I am expecting a deeper correction more like a Zig Zag to take place. Using double channels since wave 2 was very shallow. Ill be waiting for a wave "a" and wave "b" to complete before placing a trade to catch "c" wave to complete 4.
Note
Looks like a triangle forming on the 1 hr for this 4th wave.
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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.