Degrees
Primary : White
Intermediate : Yellow
Minor : Blue
Current Structure in Primary degree : 3-3-5 Flat
Current Structure in Intermediate degree : 3-3-3-3-3 Terminal Impulse
Current Count:Primary B,Intermediate C,Minor 5
On the basis of price movement It seems like we are making a Flat corrective pattern 3-3-5 in primary degree of which wave A and wave B is done and going ahead we can see an impulsive move of wave C in primary degree taking prices to primary wave A high's and even beyond. Currently we are in Primary wave B,Intermediate wave C,Minor wave 5.In regular Flat's generally wave B travel's 80% of wave A(I have shown 61.8 and 78%) retarcement of wave A over here as i am expecting this to be a regular flat correction.Hence if we see price falling in the wave B tgt zone and we see a reversal candle with a follow through coupled with momentum divergence then one can go long with reversal candle low's as stop-loss.
As the coming move will be impulse movement would be sharp as per my view.So keep an close eye on prices and try to find a trade setup in wave B price target zone
Primary : White
Intermediate : Yellow
Minor : Blue
Current Structure in Primary degree : 3-3-5 Flat
Current Structure in Intermediate degree : 3-3-3-3-3 Terminal Impulse
Current Count:Primary B,Intermediate C,Minor 5
On the basis of price movement It seems like we are making a Flat corrective pattern 3-3-5 in primary degree of which wave A and wave B is done and going ahead we can see an impulsive move of wave C in primary degree taking prices to primary wave A high's and even beyond. Currently we are in Primary wave B,Intermediate wave C,Minor wave 5.In regular Flat's generally wave B travel's 80% of wave A(I have shown 61.8 and 78%) retarcement of wave A over here as i am expecting this to be a regular flat correction.Hence if we see price falling in the wave B tgt zone and we see a reversal candle with a follow through coupled with momentum divergence then one can go long with reversal candle low's as stop-loss.
As the coming move will be impulse movement would be sharp as per my view.So keep an close eye on prices and try to find a trade setup in wave B price target zone
Current Strucutre in Minor degree: Unclear can form diametric pattern unless we see faster retracement to 11800