Just a bullish idea. If the CPI and the FOMC come in with bullish influence, this 5th wave looks possible. See my previous post for a bearish perspective.
Note
Note: the RSI shows a scribble that I left from my previous (short term) bearish post.Note
This looks a little more reasonable.
Note
Looking again at how I was counting these corrective waves, I realize that although I might be able to count 11 waves (of the same order) within that WXY, I did not label the sub waves correctly. I'm far from being able to identify and label complex corrections.
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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.