My invalidation level was hit and I had to adjust.
It has come to my attention that I can label the whole advance as a complex correction for now. With a reason that a final wave C always unfold as a motive wave and the current structure does not look motive.
Now I labelled the top wave (x) as the preceding move looks like an A-B-C move which I will label wave (y).
Now price seem to have found support at the 61.8% retracement of wave A which I labelled wave B. Now we can expect the wave C decline as a motive wave.
Price can still unfold to a triangle shape and we have to be cautious of where we invalidate this move and when to alter our idea.
I wish a happy trading to you All.
God Bless You.
It has come to my attention that I can label the whole advance as a complex correction for now. With a reason that a final wave C always unfold as a motive wave and the current structure does not look motive.
Now I labelled the top wave (x) as the preceding move looks like an A-B-C move which I will label wave (y).
Now price seem to have found support at the 61.8% retracement of wave A which I labelled wave B. Now we can expect the wave C decline as a motive wave.
Price can still unfold to a triangle shape and we have to be cautious of where we invalidate this move and when to alter our idea.
I wish a happy trading to you All.
God Bless You.
