If it is a correction wave "C" , so we could see falling to $1700... Or not?..
Trade closed: target reached
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Comments
RegideTrader
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Cool, we have the same perspective, but I have a small comment on your labelling: your first ABC is a lot shorter than your 2nd. If you think they both belong to the same level cycle, then it would be more logical and coherent to end the C leg of the 2nd ABC at A (2130). This way they match more in case of timeframe.
happy trading :)
ichepurnov
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@pwettyboy, i think it's a correction after 5-th wave, so it can be wider, then after 3-rd.
So you think, we see now 2 wave of next cycle?
RegideTrader
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@ichepurnov, okay cool! I was thinking your point B at 2760 was a wave 3. Then the lower top at 2725, could be a truncated 5th, its also looking very exhausted. After that we had our ABC zigzag retrace
Edward_Bowler
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I'm not convinced by the point 2, I think it's more complex
ichepurnov
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@mkll, thank you for you opinion, time will show the truth for us :)
happy trading :)