I know its colorful but bare with me,
obviously we are in correction and I don't think this is the end of it. It depends on what time frame is this correction but as it unwinding more of it I can get better perspective.
for now just a wild guess that we are in B wave of the purple waves.
if I am right there, then the purple C wave can come as a motivational 5 wave structure, can be a abc structure as it is on the chart with blue, or it can be abcde again 5 wave but corrective structure.
please share ur thoughts...
obviously we are in correction and I don't think this is the end of it. It depends on what time frame is this correction but as it unwinding more of it I can get better perspective.
for now just a wild guess that we are in B wave of the purple waves.
if I am right there, then the purple C wave can come as a motivational 5 wave structure, can be a abc structure as it is on the chart with blue, or it can be abcde again 5 wave but corrective structure.
please share ur thoughts...
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the projected purple corrective wave is ending on first Friday of the month, I wonder if NFP will be the catalyst for making new all time high.
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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.