At this point we assume that the market has completed the diagonal in the 5th wave, and make the first wave of a new trend.
Market is correcting wave 2, giving us time to marshal resources for upcoming impulse wave (3rd wave).
We assume that bulls will come in and buy discounted prices around historical support level (1.2770), end of 2nd correctional wave.
Market is correcting wave 2, giving us time to marshal resources for upcoming impulse wave (3rd wave).
We assume that bulls will come in and buy discounted prices around historical support level (1.2770), end of 2nd correctional wave.