We're still in the big ABC running flat (the purple one).The B wave perfectly found the top at 123% Fibonacci.
Therefore, the C wave must be decomposed as an impulse wave.
The 50% retracement level meets perfctly the top of the A wave (the green one).
If the support 0.0933 fails, there is a high probability to go back to 0.077 which is a much stronger support.
Therefore, the C wave must be decomposed as an impulse wave.
The 50% retracement level meets perfctly the top of the A wave (the green one).
If the support 0.0933 fails, there is a high probability to go back to 0.077 which is a much stronger support.
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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.