Price has just completed wave 1 of the primary degree wave 3.
The ABC correction wave 2 is also completed although it is possible for price to decline a bit further.
Wave 1 of the primary degree wave 1 expanded 2.12 points.
Also wave 1 of the primary degree wave 3 expanded 3.77 points.
2.12 * 1.786 = 3.78 points ( shows that wave 1 of 3 is 1.786 ratio expansion of wave 1 of 1)
This indicates that the next wave, 3 of 3 would be a bigger expansion of the previous wave 3 of 1.
To make it simple, the bigger impulse wave 3 is forming.
Always compare and use quotes on your broker platform.
The ABC correction wave 2 is also completed although it is possible for price to decline a bit further.
Wave 1 of the primary degree wave 1 expanded 2.12 points.
Also wave 1 of the primary degree wave 3 expanded 3.77 points.
2.12 * 1.786 = 3.78 points ( shows that wave 1 of 3 is 1.786 ratio expansion of wave 1 of 1)
This indicates that the next wave, 3 of 3 would be a bigger expansion of the previous wave 3 of 1.
To make it simple, the bigger impulse wave 3 is forming.
Always compare and use quotes on your broker platform.