Adding red count in case we are hitting a flat count which implies 335 structure.
Hence why the first downward move is labeled as a zig zag. So overall count wouldnt be a 535 zig zag pattern.
Current PA of the latest lows (yesterdays) for the moment looks impulsive. This is why i entertain the green labeled idea that we might have a 3 wave pullback before we continue with increasing the price.
Hence why the first downward move is labeled as a zig zag. So overall count wouldnt be a 535 zig zag pattern.
Current PA of the latest lows (yesterdays) for the moment looks impulsive. This is why i entertain the green labeled idea that we might have a 3 wave pullback before we continue with increasing the price.
Note
Dislike the impulsive structure simply because of the weak wave 3, and even weaker wave 5.
Channeling wise, structure suggest that we are rather hitting a corrective structure than impulsive.
Not the best triangle subdivision but larger image beats smaller image.
There is an alternation in waves 2 and 4 .
If i see a propper 3 wave retracement i would long because my larger idea leans towards the fact that this will continue going up.
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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.