I have seen rapid movement which could be 3rd wave so I started thinking about whole picture. 2nd wave is sharp to the 61.8% so I would expecting alteration (between 2 and 4) so unfolding 4th wave could be side correction, Triangle or Flat. I have marked Key level for Triangle which would be 1.58477, if market hit this point, Triangle is no more option.
Of course, there is more possibilities than that, the whole pattern doesn't have to be Impulse but there are some clues that says it is. Base channel channel hit by 3rd wave, structure doesn't look like Flat (because insufficient retracement of wave 2, for Flat I would expect at least 80% of wave A). Time will tell....
Of course, there is more possibilities than that, the whole pattern doesn't have to be Impulse but there are some clues that says it is. Base channel channel hit by 3rd wave, structure doesn't look like Flat (because insufficient retracement of wave 2, for Flat I would expect at least 80% of wave A). Time will tell....
Comment:
Market hit Key level for Triangle so this pattern is off the game. Will see if Flat will appear and then 5th wave will head down.