Overview: in the previous update, our expectations was that we are already in (II), which was invalidated as we made a higher high.
Update: what I see is that the high made on Dec. 1st was the peak of wave (I) and right now, we are in the early stages of developing wave (II). I will wait for more price action to develop to propose a structure for wave (II) and currently, the best confirmation is the breakdown through the ascending trendline.
Update: what I see is that the high made on Dec. 1st was the peak of wave (I) and right now, we are in the early stages of developing wave (II). I will wait for more price action to develop to propose a structure for wave (II) and currently, the best confirmation is the breakdown through the ascending trendline.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.