From the peak I counted a clear 5 wave impulse and what followed was corrective price action contained in the channel. Unless it is a Flat correction , whenever we see an impulse in a new direction, we should expect a correction and at least one more impulse in that same direction.
Of course conditions do exist wherein the correction is still incomplete or I...
Currently, we are within the wave B of a possible zigzag and I expect price to approach the top of the channel before the C wave commences. The bluebox marked is the likely resistance level but we may see price exceeding it up to the 61.8% fibonacci retracement.
Price in the range was a bit tough to make sense of until it became to clear to me that I was looking...
