Anticipating a zig zag looking 3 waves into the .382/.500 fib retracement
for a final 5th wave up to slightly new highs.
(if analysis would label the mess of a 2nd wave as a triangle-not common for a 2nd wave)
[[[ The principal of alternation being - whatever wave 2 completes, price action
should be the opposite in wave 4, such as, if wave 2 is a zig zag wave 4 is likely
to be a flat or triangle or if a triangle then a zig zag]]]
There - the bigger trade will be the potential for larger
corrective price action, perhaps, as big a retracement
as down toward the .9300 area.
for a final 5th wave up to slightly new highs.
(if analysis would label the mess of a 2nd wave as a triangle-not common for a 2nd wave)
[[[ The principal of alternation being - whatever wave 2 completes, price action
should be the opposite in wave 4, such as, if wave 2 is a zig zag wave 4 is likely
to be a flat or triangle or if a triangle then a zig zag]]]
There - the bigger trade will be the potential for larger
corrective price action, perhaps, as big a retracement
as down toward the .9300 area.
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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.
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.