(This content is analytical in nature and not financial advice)
Based on the long-term chart observation, the market is currently in a corrective phase following the Expanded Flat pattern, consisting of three waves: A-B-C.
- Wave A has completed with a 3-wave structure, representing the first decline after the long-term peak.
- Wave B has now exceeded the peak of wave A – a typical characteristic of the Expanded Flat pattern, where wave B usually retraces between 105% to over 120% of wave A's length.
- Wave C is projected to form next, likely as a strong 5-wave impulsive decline, which may extend over the medium term, potentially driving prices down to deeper support zones (700 – 600 – or lower)
Based on the long-term chart observation, the market is currently in a corrective phase following the Expanded Flat pattern, consisting of three waves: A-B-C.
- Wave A has completed with a 3-wave structure, representing the first decline after the long-term peak.
- Wave B has now exceeded the peak of wave A – a typical characteristic of the Expanded Flat pattern, where wave B usually retraces between 105% to over 120% of wave A's length.
- Wave C is projected to form next, likely as a strong 5-wave impulsive decline, which may extend over the medium term, potentially driving prices down to deeper support zones (700 – 600 – or lower)
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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.
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.