Its been a long time almost an year EUR/USD had been falling. We were falling in an structure of L series (mean long term wave ) and recently we have completed L5 a 0.98132. Now its time for an ABC correction structure which we represent with LC1, LC2. ( C stand for correction).
Let see structure equation,
1) We are in (LC 1 >) in which we have completed M1 ( m stand for medium term waves) and progressing with M2 (LC 1>M2 ?)
2) Further if we brake down M series you will see s series( s stand for short term wave) (LC 1>M2 > SC 2?)
3 ) This mean after correction wave in wave M2, we will definitely see an 5 or 3 wave structure in s series as long as we are above invalidation levels. Note -This equation is just for your memory. Let me know if this is helpful or not.
If you does not understand our coding structure plz check out below chart.
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