Zooming out to the 3-day chart, I believe we have finished the black 5-wave cycle and we're now in a correction.
Even though the 50% pullback zone is about to be touched, it's a low probability that the correction will be so quick. Therefore, I'm considering this to be black A, and expect a sideways grind for the near future.
Even though the 50% pullback zone is about to be touched, it's a low probability that the correction will be so quick. Therefore, I'm considering this to be black A, and expect a sideways grind for the near future.
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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.