Hello traders, DJI in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
According to the count, the main waves 1, 2 and 3 of this process have ended and now we are inside wave 4.
Wave 2 is the main correction shallow and short, so wave 4 is deep and long in terms of price or time.
Given the structure that has been formed so far, it is more likely to be time-consuming.
In the previous analysis, we assumed that the correction was in the form of a triangle or a flat, and said that if the last floor was broken, the type of correction would change again, and the type of correction would have changed to zigzag.
It is probable that wave a is forming from this zigzag, which ends with another descent to the channel ceiling and wave b is formed.
We think that to correct the temporal correction, wave b is a complex correction, and if it moves beyond Fibonacci 0.618, this analysis will be fielded.
Also, if the bottom of the channel is broken down, wave a was longer and wave b is corrected in the form of a pullback to the ceiling of the channel.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
According to the count, the main waves 1, 2 and 3 of this process have ended and now we are inside wave 4.
Wave 2 is the main correction shallow and short, so wave 4 is deep and long in terms of price or time.
Given the structure that has been formed so far, it is more likely to be time-consuming.
In the previous analysis, we assumed that the correction was in the form of a triangle or a flat, and said that if the last floor was broken, the type of correction would change again, and the type of correction would have changed to zigzag.
It is probable that wave a is forming from this zigzag, which ends with another descent to the channel ceiling and wave b is formed.
We think that to correct the temporal correction, wave b is a complex correction, and if it moves beyond Fibonacci 0.618, this analysis will be fielded.
Also, if the bottom of the channel is broken down, wave a was longer and wave b is corrected in the form of a pullback to the ceiling of the channel.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️