I’m slightly adjusting my previous plan, as the current structure made me rethink the pattern.
Earlier, I thought the ABCDE triangle was already complete, but now I’m starting to doubt that.
At the moment, I believe wave E might still need to form — and I see two possible scenarios for how it could unfold:
either along the green path or the purple one.
I’m leaning more toward the purple scenario, but it’s also possible that what we’re seeing now is still part of wave D — meaning yesterday’s low at 2.0959 could be just a portion of that move.
If that’s the case, Tone may first drop toward 1.96 to finish wave D,
then rise again to complete wave E of the triangle before continuing downward.
In that case, the decline could extend well below 1.96, possibly even toward 1.6.
Earlier, I thought the ABCDE triangle was already complete, but now I’m starting to doubt that.
At the moment, I believe wave E might still need to form — and I see two possible scenarios for how it could unfold:
either along the green path or the purple one.
I’m leaning more toward the purple scenario, but it’s also possible that what we’re seeing now is still part of wave D — meaning yesterday’s low at 2.0959 could be just a portion of that move.
If that’s the case, Tone may first drop toward 1.96 to finish wave D,
then rise again to complete wave E of the triangle before continuing downward.
In that case, the decline could extend well below 1.96, possibly even toward 1.6.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.