STX - Corrective wave endedWe can see how we clearly have 5 waves (Yellow line) with 3 impulsive moves.
We can observe how each impulsive move is followed by another 5 clear waves with its respective higher highs (Blue Aqua line).
Those are then followed by 5 corrective waves also (Qhite line).
Adding 2 Fib retracement patters we get a range of what, in my opinion, could be the bottom for the current corrective wave we are experiencing right now.
We the get a price range between the short term move fib (38.20%) and the long term fib (23.60%).
What could be next?
This should come followed by a new 5 small waves and possibly form another 5 corrective waves, creating a new accumulation schematic.
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Raf
