If correct, we should expect a slight bullish correction. However, Fed Rate Interest decision will define if we'll have a bearish or bullish trend over the next months.
I'm adopting the Elliot Wave Theory for these initial series of ideas, mixing eventually with future Fibonacci retracements that will indicate the entry point of each trade.
1 and 4 are overlapping.. NOT an impuls. abc - x -abc the last c saw ( or will see it´s) 4th and then new low.
CarlosBMN
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@rondoinvest, Wave 4 does overlap Wave 1 prices. Although most wave traders avoid dealing with any price area overlap, my understanding is that it doesn't necessarily illegitimate the wave impulse pattern. But then again, it is just a different idea. Thanks for noticing and commenting!