In this wave 2 correction, we identified a WXY correction
W is a 3-3-5 flat pattern
Y is a 5-3-5 zigzag pattern
We are currently in the final 5 wave of the zigzag pattern (wave Y)
In a shorter term, it might correct to wave 2 (61.8% level) then resume downward momentum
W is a 3-3-5 flat pattern
Y is a 5-3-5 zigzag pattern
We are currently in the final 5 wave of the zigzag pattern (wave Y)
In a shorter term, it might correct to wave 2 (61.8% level) then resume downward momentum
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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.