Wave Analysis For APT

This is unlikely to be an impulse and more likely to be a double zigzag. Based on the retracement of the correction of the labelled x wave, this is unlikely to be a 4th wave because it is too deep. 4th waves are rarely greater than 50%. THe other reason this is unlikely to be an impulse is because the wave 2 is already deep so based off of rule of alternation wave 4 should be shallow which this is clearly not.

The other thing to note is black a is a leading diagonal so it should be expected we got a deep correction what happens next should be a powerful wave up.