in smaller time frame those red counts didnt looked as finished so this down move was expected, from the very top we have clear pattern developing, after that big down move which we can distinguish as a motive wave, the correction is also recognizable. this latest structure which i think is finishing after braking the low will be last part of the orange abc counting which is B wave of the bigger degree. after breaking the low as per chart im expecting an up move to begin as wave C. now where will that up move finish we will know when we see what structure is C wave developing,
- it can be as per ghost candles and will form as running flat between those parallels and we will have another motive move down.
- it can extend way beyond blue point A and up to that rectangle up which is strong resistance.
as iv said it can be recognizable depending of what structure it will make on the way up,
if i need to choose im choosing first option running flat, cose as per that scenario we can have another wave down same length as that blue motive wave or some shorter one and that will give us ranging between 1.25 - 1.04 in weekly.
and if it make expanded flat and retrace up to that resistance zone with rectangle it means it can extend way lower to parity which i dont believe that will happen at least not in near future.
now if there is interest for updating in smaller time frame charts with set ups, like it!
- it can be as per ghost candles and will form as running flat between those parallels and we will have another motive move down.
- it can extend way beyond blue point A and up to that rectangle up which is strong resistance.
as iv said it can be recognizable depending of what structure it will make on the way up,
if i need to choose im choosing first option running flat, cose as per that scenario we can have another wave down same length as that blue motive wave or some shorter one and that will give us ranging between 1.25 - 1.04 in weekly.
and if it make expanded flat and retrace up to that resistance zone with rectangle it means it can extend way lower to parity which i dont believe that will happen at least not in near future.
now if there is interest for updating in smaller time frame charts with set ups, like it!
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this is dxy chart and its basically the same just in opposite
