In this variation, I plot the blue ABC correction of the entire falling stretch since January 2021 (1.23491) to September 2022 (0.95356), which is expected to rise above 0.618% = 1.12743 and reach 1.13835.
As in Variant 1, the target should be reached by July (August at the latest).
The red b can correct the red a either 0.38, 0.50 or 0.618%. That remains to be seen.
The trend would not turn bearish until Weekly closes below 1.06994.
As in Variant 1, the target should be reached by July (August at the latest).
The red b can correct the red a either 0.38, 0.50 or 0.618%. That remains to be seen.
The trend would not turn bearish until Weekly closes below 1.06994.
Note
BIG PICNote
All 3 specified levels have been reached.(yellow circles)
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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.