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To the Analysis,
As it is earlier Mentioned that the whole upward move is nothing other than the correction.
Now what do we understand by a correction within an impulse...? how do we identify it as Elliott prescribed...?
Simply a LEADING DIAGONAL TRIANGLE that can take any corrective form within an impulse & particularly during initiation of a new trend.
So, this is going to be our High Probable count / idea that stands far above than any other ideas
Wave 1 have been significantly completed as an Triple three Corrective set (W), (X),(Y),(X) &(Z). and that wave 2 is progressing, to correct previous wave 1.
OK, Now we see a question arising in your mind, where is it headed...?
As you can see through the Image, the FIBO Retracement have been drawn connecting appropriate H & L's & for higher confirmation, lets also take the help of coincidence areas with FIBO. through this 50% serves to be a good support & we can expect that to hold strongly for further gains for the third wave within the diagonal triangle.
However our advice is to Trade effectively within the diagonal triangles as it is extremely emotional.
Thanks for reading our analysis,
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