Some major fractal waves completing here if we're to continue short with a valid ABC corrective wave back up here and its sub-waves (WXYXZ).
With a few "red folder news events" coming out this week I actually really like this idea or something like it playing out, with some typical sideways/consolidating price action. With a long term bias of lower, these news release numbers may reflect that as well and we could just start trending lower to get to the bigger picture (fractal) targets
With a few "red folder news events" coming out this week I actually really like this idea or something like it playing out, with some typical sideways/consolidating price action. With a long term bias of lower, these news release numbers may reflect that as well and we could just start trending lower to get to the bigger picture (fractal) targets
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expecting a clear completed 5 wave sequence lower to complete larger waves (which is also considered 1 impulsive move).
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great risk for this short and i highlighted (yellow wave) the potential for a more complex corrective wave
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this idea really shows the different potentials that a corrective wave can take... the first idea would be the most common... then theres the direct WXYXZ correction (yellow wave in the picture above this one and equally as common corrective wave would be this very harmonic 1-1 ABC move