In this chart, we are looking at a possible WXYXZ complex correction unfolding on the daily timeframe. After Wave W and a connecting Wave X, we saw a sharp drop forming Wave Y. The next bounce, which is labeled as Wave X2, appears to be a clean five-wave impulse. While it's not very common, impulsive waves can occur as connectors in complex corrections, especially when the market wants to retrace deeply before the final leg. This adds weight to the idea that the correction is not over yet.
What follows next is Wave Z, and it seems to be taking the form of a zigzag. Within this zigzag, the first leg, Wave A, looks like a textbook leading diagonal. This is something we often see at the beginning of zigzags where the market starts a move in the direction of the larger trend but in a choppy and overlapping way. After Wave A, we should expect a pullback as Wave B, and then a final drop as Wave C, which could mark the end of the entire WXYXZ structure.
This interpretation stays valid as long as price respects the invalidation level marked near the top of Wave X2. If that level is breached, the structure will need to be re-evaluated. Until then, the focus remains on monitoring how Wave B and Wave C unfold from here.
Disclaimer:
This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
What follows next is Wave Z, and it seems to be taking the form of a zigzag. Within this zigzag, the first leg, Wave A, looks like a textbook leading diagonal. This is something we often see at the beginning of zigzags where the market starts a move in the direction of the larger trend but in a choppy and overlapping way. After Wave A, we should expect a pullback as Wave B, and then a final drop as Wave C, which could mark the end of the entire WXYXZ structure.
This interpretation stays valid as long as price respects the invalidation level marked near the top of Wave X2. If that level is breached, the structure will need to be re-evaluated. Until then, the focus remains on monitoring how Wave B and Wave C unfold from here.
Disclaimer:
This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Nota
Wave B(the pullback) appears to have completed as a zigzag, with internal Wave C(red) equalling Wave A(red) in length — a classic 100% symmetry. Right after this completion, a sharp decline has begun, suggesting that Wave C(purple) of the larger Wave Z may now be underway. 
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.