One of possible versions of structure indicates that now we are dealing with the final ascending wave E of (4), that can exist in the shape of double zigzag of flat pattern.
It’s not excluded that ascending zigzag [a] of E is 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 starting to develop.
Probably, now we are dealing with the elongated horizontal correction 4 of (A). In this case, it’s reasonable to expect final rush to the upside in the form of the wave 5 of (A). Ascending zigzag [d] of 4 of (A) is developing.
Probably, descending zigzag [c] of 4 is completed, ascending zigzag [d] of 4 is developing. In the present time, local descending correctional move (b) of [d] is in place.
Possibly, ascending zigzag [d] is developing and now it’s descending correctional move (b) of [d] is underway. If this assumption is correction, then it’s reasonable to see 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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