149 views
Looking at first glance, I can find that 1-2-3-4 Waves have been made and 5th is running. While The secondary waves has also been seen till yet. Expecting prices to trade higher till 5th wave near 92-93 and We can see primary corrective trend A-B-C till 80 or levels.
Comments
In Elliottwave theory . If the motive wave is an impulse wave 4 cannot overlap the price territory of wave 1 , it can only happen if the motive wave is a diagonal. Even then 1 > 3 > 5 if it is a contracting diagonal.
This is most probably a-b-c-x-a-b-c . Note a and c will be five wave moves .
In zig ABC srtucture wave A can be a five wave impluse or a diagonal . Wave C can be a complex structure but in this case it is also a zig zag . Only way we can differentiate between a new impluse and a corrective wave is that wave 4 of an impulse never end in the price territory of wave 1 . In a double zig zag it does end that way .
So this structure will go higher like this 1-2-3-4-5(A) - a-b-c (B) - 1-2-3-4- 5 (C) , So you will be able to see the five waves as A'a and C's will be fives .
In Elliottwave theory . If the motive wave is an impulse wave 4 cannot overlap the price territory of 2 , it can only happen if the motive wave is a diagonal. Even then 1 > 3 > 5 if it is a contracting diagonal.
This is most probably a-b-c-x-a-b-c . Note a and c will be five wave moves .