current structure: zigzag 5-3-5
current leg:wave c sub wave 5 sub wave 2(this should form an ending diagonal)
typical target zone for zigzag wave c is between 100-123.6% extention
over here internal structure is supporting zigzag correction pattern but wave b has retraced wave a by 80%, where in a zigzag pattern wave b will not retrace wave a by more 61.8%,hence over here target for wave c can be taken between 61.8-100% extention level of wave a,also channel support is coming at 61.8% extention level.
one should look to enter at 61.8% extention level that to partially once additional reversal sign are seen in that zone.Until then avoid getting long.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
current leg:wave c sub wave 5 sub wave 2(this should form an ending diagonal)
typical target zone for zigzag wave c is between 100-123.6% extention
over here internal structure is supporting zigzag correction pattern but wave b has retraced wave a by 80%, where in a zigzag pattern wave b will not retrace wave a by more 61.8%,hence over here target for wave c can be taken between 61.8-100% extention level of wave a,also channel support is coming at 61.8% extention level.
one should look to enter at 61.8% extention level that to partially once additional reversal sign are seen in that zone.Until then avoid getting long.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis