In the previous analysis, a specific range was determined for the price to reverse, after reaching that price range, the price jumped upwards and the price grew by 1700 pips. However, considering that the structure of wave-c is not an impulse, the zigzag was not confirmed and it seems that a larger corrective pattern is forming.
It seems that the reverse contracting triangle pattern is forming, which is currently in wave-d of the triangle. With the completion of wave-d, we can better find the end point of wave-e.
It seems that the reverse contracting triangle pattern is forming, which is currently in wave-d of the triangle. With the completion of wave-d, we can better find the end point of wave-e.
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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.