Are we going to see wave E?
Are we going to see wave E? We have seen an impulsive recovery from 0.76, which made me think about E wave which should be diveded into 3 waves of ABC. As shown, I belive A wave has been done, then corrective B, and we should now be in the last C wave. It should divide into 5 implusive waves of which first has finished. We are now moving in a specific range which may be corrective after which i expect impulsive move upside. If we stay by the rules, C wave should extend minimum 100% of A wave, with the possibility of extending to 1.618 or even more. There is a chnace of one more higher high around 1.32 - 1.47 which would be the end of the corrective ABCDE rising wedge and as a result we should expect impulsive decline in price towards 0.3. Despite all the negativity, polygon is fighting hard and keeping its price at reasonable levels but that shouldnt last long. On the other hand, we should be careful of the position we take. If we dont manage to break above 1.15, 0.72 is the first support i expect it to visit.
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