Hello traders, there is an update on my last idea.
As you can see on the chart, we have clearly formed a 5/3/5 ZigZag wave. If you set up the fibo levels for each wave, we can see that everything is as in the books. Wave A has 5 waves, Wave B is retraced from 0.618 with ABC pattern, and wave C is exactly as long as wave A with 5 waves. Also as a second idea, we have formed a clear Gartley pattern as well.
Trade safe, I hope we can see the end of the bear trend already and reverse.
As you can see on the chart, we have clearly formed a 5/3/5 ZigZag wave. If you set up the fibo levels for each wave, we can see that everything is as in the books. Wave A has 5 waves, Wave B is retraced from 0.618 with ABC pattern, and wave C is exactly as long as wave A with 5 waves. Also as a second idea, we have formed a clear Gartley pattern as well.
Trade safe, I hope we can see the end of the bear trend already and reverse.