Wave (ii) has finished as a double zigzag a little bit above the 0.618 retracement level. Today’s advance is likely the first wave of a larger third-wave advance. If correct, after a short break, the market should begin unfolding wave iii.
The market is moving sideways, so we can’t rule out a further unfolding of wave (ii), probably in the form of a double zigzag. In this case, we should still watch the 0.618 retracement level as a potential target for the second-wave correction.
The current decline subdivides into three waves, so it seems like wave (ii) might take the form of a zigzag. If so, we should watch the 0.786 level, which could act as support.
The market is still unfolding wave (2), possibly in the form of a double zigzag. As shown on the 30m chart below, there’s a possible extension in wave (iii). In this case, we’re likely going to have the rest of wave v of (iii) in the short term.
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The market is still unfolding wave (2), possibly in the form of a double zigzag. As shown on the 30m chart below, there’s a possible extension in wave (iii). In this case, we’re likely going to have the rest of wave v of (iii) in the short term.
The market is still unfolding wave (2), possibly in the form of a double zigzag. As shown on the 30m chart below, there’s a possible extension in wave (iii). In this case, we’re likely going to have the rest of wave v of (iii) in the short term.
Wave (2) turned out to be longer. There’s a possible flat pattern in wave ((b)). The current downward five-wave price movement is likely wave ((c)) of Y, which is almost over. However, as long as the price remains below the high of wave (iv), we can’t rule out a further decline.
Wave (2) turned out to be longer. There’s a possible flat pattern in wave ((b)). The current downward five-wave price movement is likely wave ((c)) of Y, which is almost over. However, as long as the price remains below the high of wave (iv), we can’t rule out a further decline.
There’s a local downward three-wave price movement, which brings more evidence that wave 2 is over in the form of a zigzag. If so, the market should continue rising towards the high of wave 1. A break of 1.1726 will boost the idea.
