If we zoom out - there is a clear flat in the middle of a larger structure. Such consolidations are typical in the middle of the waves B within larger flat patterns.
So, on daily, we have wave A, now in the mid of wave B, and it will be completed by a strong dump to test the end of wave A.
Two basic options:
- a running flat (higher high by the wave B and failed break of A);
- regular flat (wave A will be broken and price will move up in a strong trending move)
Good luck and hope this helps.
So, on daily, we have wave A, now in the mid of wave B, and it will be completed by a strong dump to test the end of wave A.
Two basic options:
- a running flat (higher high by the wave B and failed break of A);
- regular flat (wave A will be broken and price will move up in a strong trending move)
Good luck and hope this helps.