This story means, that there’re a leading diagonal in wave 1 and a developing extension in wave 3. In this case, we could have wave ((v)) of 3 pretty soon.
As we can see on the one-hour chart, there’s a complete extension in wave ((iii)), which means we could have wave ((iv)) in the coming days. This correction could take the form of a double zigzag, but to be honest, it’s too easy to call the final form of wave ((iv)). So, one way or another, the price is going to test the 23.6% retracement level of wave ((iii)).
As we can see on the one-hour chart, there’s a complete extension in wave ((iii)), which means we could have wave ((iv)) in the coming days. This correction could take the form of a double zigzag, but to be honest, it’s too easy to call the final form of wave ((iv)). So, one way or another, the price is going to test the 23.6% retracement level of wave ((iii)).
💪 ElliottWave Trader since 2004. 20 years of experience.
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🇬🇧 t.me/Waveology
🪆 t.me/TraderIgnat
🦀 Crab News: t.me/infocrab (in Russian)