As you see the chart above, I've counted the waves of SXP chart.
I think wave 1 and 2 from a larger degree is finished and the chart has started wave 3.
Within wave 3, wave 1 has been terminated and now it's in wave 2 which is a corrective one.
Due to Fibonacci ratios, I think wave 2 can be terminated in the area I've specified (61.8 ratios)
Pay attention, after that wave 3 will begin which is a powerful wave in the direction of a trend.
As always, Do Not Lag Behind! :)
I think wave 1 and 2 from a larger degree is finished and the chart has started wave 3.
Within wave 3, wave 1 has been terminated and now it's in wave 2 which is a corrective one.
Due to Fibonacci ratios, I think wave 2 can be terminated in the area I've specified (61.8 ratios)
Pay attention, after that wave 3 will begin which is a powerful wave in the direction of a trend.
As always, Do Not Lag Behind! :)
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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.