CORRECTIVE CHANNEL - RENUSD
"Zigzag corrections often form channels with four touch point. One line connects the starting point of wave A and then end of wave B; the other line touches the end of wave A and end of wave C. Once the former line is established, a parallel line drawn from the end of wave A is an excellent tool form recognizing the exact end of the entire correction."
- Frost and Pretcher
Looks like a zigzag correction. It may be in a longer 3rd wave than that. But I think the range where the 5th wave will end will be around the bottom line of the channel and the purple box.
- Frost and Pretcher
Looks like a zigzag correction. It may be in a longer 3rd wave than that. But I think the range where the 5th wave will end will be around the bottom line of the channel and the purple box.
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.