The five wave impulse wave is shown in the 5 wave series (blue wave)
The corrective wave correcting the whole 5 wave is in action with a ABC correction
-------- ABC correction can be the following -------------
1) Zig-Zag
2) Flats
3) Triangles
This looks like a zig-zag correction so the zig-zag correction is a 5-3-5 correction and I believe it might end in 2 points
One at 61.8% retracement - $102
second one at 70% retracement - $78
Let's see which ones makes a turnaround, appreciate the feedback
The corrective wave correcting the whole 5 wave is in action with a ABC correction
-------- ABC correction can be the following -------------
1) Zig-Zag
2) Flats
3) Triangles
This looks like a zig-zag correction so the zig-zag correction is a 5-3-5 correction and I believe it might end in 2 points
One at 61.8% retracement - $102
second one at 70% retracement - $78
Let's see which ones makes a turnaround, appreciate the feedback
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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.