Long Term Correction
Updated
Pretty clear structure here
We have an ABC pattern (flat) with a complex wave B which you can see is a double. (for now)
With this structure you can also see how price is playing easily off of the trading range and the "fair price."
Moving Forward I'm expecting price to push to our lower level support zone in between the organ and blue lines
If we break our swing low (with momentum) and this flat becomes extended we will continue to push to the lower level zones in yellow.
There is also the possibility of it taking another bull rally to push towards the resistance level shown in blue.
You can also see how the support zones play off of past price action and how they coincide with the fibonacci extension
We have an ABC pattern (flat) with a complex wave B which you can see is a double. (for now)
With this structure you can also see how price is playing easily off of the trading range and the "fair price."
Moving Forward I'm expecting price to push to our lower level support zone in between the organ and blue lines
If we break our swing low (with momentum) and this flat becomes extended we will continue to push to the lower level zones in yellow.
There is also the possibility of it taking another bull rally to push towards the resistance level shown in blue.
You can also see how the support zones play off of past price action and how they coincide with the fibonacci extension
Note
updated view on the way..
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