Finally, we've got our Minor 4.
Anyway, if you look at the chart, it also could be a "Minute" abc corrective pattern (c=Impulse wave), instead of an "Minute" wxy (Y=corrective wave). Next step could be, the approach to the horizontal magenta resistance line. If it happens, this could be a further confirmation for "Minor" 4 and the correction of the past weeks is over.
Scenario 1: Direct Breakthrough of the magenta line!
Scenario 2: Pullback near the line with formation of a 2nd shoulder (Takes more than a day!)
We will see, FED is about to speak...
Good run so far!
Wolf
Anyway, if you look at the chart, it also could be a "Minute" abc corrective pattern (c=Impulse wave), instead of an "Minute" wxy (Y=corrective wave). Next step could be, the approach to the horizontal magenta resistance line. If it happens, this could be a further confirmation for "Minor" 4 and the correction of the past weeks is over.
Scenario 1: Direct Breakthrough of the magenta line!
Scenario 2: Pullback near the line with formation of a 2nd shoulder (Takes more than a day!)
We will see, FED is about to speak...
Good run so far!
Wolf
Scenario 1: Consolidation within the channel.
Scenario 2: Direct break