Looks like a nice setup for a quick play, with nice .618 bounce and some seemingly easy diagonals. I don't see a triangle formation, but the lines are there.
Many different patterns possible here. Initial wave looks like a 5 wave move, but alternatively labelled as WXY. Nice .618 bounce, suggesting that we could see bullish continuation. I'm leaning to a C wave up, though we could get another 1-2 or even an immediate 3. The latter is the least likely.
Also possible, is immediate continuation to the downside. The C wave into .618 is not confirmed completed.
Here is how I see this chart, for those who don't 'see' EW...:
Many different patterns possible here. Initial wave looks like a 5 wave move, but alternatively labelled as WXY. Nice .618 bounce, suggesting that we could see bullish continuation. I'm leaning to a C wave up, though we could get another 1-2 or even an immediate 3. The latter is the least likely.
Also possible, is immediate continuation to the downside. The C wave into .618 is not confirmed completed.
Here is how I see this chart, for those who don't 'see' EW...:
🅱🄰🆁🅺🆆🄾🆁🆃🅷