It seems like we have completed the impulse wave and entered the correction phase. The correction took the form of a normal B. This correction's C leg exhibits a five-wave structure and concludes with a terminal impulse, marked by a 5x pattern. This suggests that the subsequent wave, following this correction, has the potential to reach a new high within this timeframe.
Our risk-reward ratio (RR) is favorable at the moment. If the current level is breached, it would indicate a different scenario, suggesting that the C leg is part of a downtrend impulse wave with a 3x structure.
Our risk-reward ratio (RR) is favorable at the moment. If the current level is breached, it would indicate a different scenario, suggesting that the C leg is part of a downtrend impulse wave with a 3x structure.
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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.