Any potential version of wave iv° looks too short to be complete right now. Moreover a closer look at wave ii° shows that we should expect wave iv° to be relatively shallow and complex due to alternation guidelines. We therefore think the current market action is a short term bull trap. We forecast an irregular flat pattern to form wave iv°. It is not done yet.
Note
Yesterday's mkt. action may have been early signs of wave (c) kicking in... still needing confirming action.Trade closed manually
The irregular flat pattern is not valid with today's high.Note
-0.4%
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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.