ABC correction of the impulsive wave
We retraced only to 0.5 from the recent high.
Now if we dig in into this second wave we made a deep retracement of around 0.786 so this makes an ''a''. Current point might look like a pivot point for ''b'' so we will have ''c'' which doesn't break above ''a''. If we make 1;1 extention A to C we reach exact 0.618-0.65 golden pocket of the whole up movement since 7.2k
This is a long stretch, let's see how things turn out :)
Now if we dig in into this second wave we made a deep retracement of around 0.786 so this makes an ''a''. Current point might look like a pivot point for ''b'' so we will have ''c'' which doesn't break above ''a''. If we make 1;1 extention A to C we reach exact 0.618-0.65 golden pocket of the whole up movement since 7.2k
This is a long stretch, let's see how things turn out :)
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.