Probably, ascending zigzag D of (B) of large inclined triangle (B) is completed in the form of a final wedge [c] of D. Final descending wave E of (B) is underway – it can develop in the shape of double-three formation, flat or horizontal elongated model.
Probably, final descending wave E of (B) is developing, it had started with flat pattern [a] of E. Expecting to see ascending zigzag b of [E].
It’s not excluded that descending impulse (c) of [a] is completing, expecting to see ascending zigzag [b].
One of possible variations of wave structure assumes that now final ascending wave E of (4) is underway, which can develop in a shape of double zigzag of flat pattern.
Ascending zigzag [a] of E can be completed, expecting to see descending zigzag [b] of E.
Probably, ascending impulse (c) of [a] of E is completed and descending zigzag [b] of E is developing.
Probably, elongated horizontal correction 4 of (A) is developing. In this case, it’s reasonable to expect final squeeze of the price to the upside in the form of wave 5 of (A). Ascending zigzag [d] of 4 of (A) is underway.
It’s not excluded that descending zigzag [c] of 4 is completed, and ascending zigzag [d] of 4 is underway. In the present time, local descending correctional move (b) of [d] is developing.
Probably, ascending zigzag [d] is developing and descending correctional move (b) of [d] had started. If this assumption is correction, then it’s reasonable to expect final ascending wave (c) of [d] after descending correctional move (b) of [d].
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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