Updated
Continuation patern vs reversal patern
In the picture we can see the corrective phase on the 1h chart. It could correct in the form of a rising wedge on an ABC patern, or on a simetrical triangle waiting for a 5th wave up.
Note
Also,in the case of the rising wedge with max of 9355 will also match with a perfect gartley.9479-8412 --> XA
8412-9075 --> AB (XA 0.618 ✓)
9075-8644 --> BC (AB~0.618 ✓)
8644-9355 --> CD around 9355 will match with 0.886 of XA and 9227 will be 0.764
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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.