In the previous week's update, I highlighted enough certainty to go long because of the ending diagonal (C) of [B] in the chart below.
We spent the entire week creating the opening move, which I've labelled wave A or (1) below. There is no preferred structure at this moment, and the complexity of the scenarios should remain on the chart. However, I can somewhat discount the larger running triangle labelled in black circles ABCDE. Given that wave [A] is a clear (W)(X)(Y), and wave [B] is nearly 2x of [A], the running triangle is less likely but not ruled out.
We spent the entire week creating the opening move, which I've labelled wave A or (1) below. There is no preferred structure at this moment, and the complexity of the scenarios should remain on the chart. However, I can somewhat discount the larger running triangle labelled in black circles ABCDE. Given that wave [A] is a clear (W)(X)(Y), and wave [B] is nearly 2x of [A], the running triangle is less likely but not ruled out.
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Related publications
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.