#SUPER New ascending large ABC structureAccording to Elliott Wave Theory, in a WXY correction, the X wave may sometimes form a triangular pattern, but this is uncommon. The X wave is typically a corrective wave and, in most cases, takes the form of a zigzag, flat, or another complex correction. Triangles are usually expanding or contracting and are often seen during market consolidation and when a change of direction is expected. Triangles are generally found in the final wave (such as wave B or wave 4).
However, in complex corrections like WXY, a triangular formation within the X wave can occur occasionally, especially when the X wave is undergoing a consolidation phase. In the WXY correction, the X wave typically represents the intermediate correction of the previous move, and a triangular formation may be suitable for this structure, but such a situation requires careful analysis.
In the current rise, the X peak is an entry point for a LONG position. An increase towards the C wave of the large ABC structure is observed.
