Hello traders !. I've been stydying the wave theory for a couple of days ... This is my first wave count so don't expect too much. If i'ts wrong please tell me.
So wave 2 retraces about 0.62 wave 1 like stated in some guideline and the big correction ( ABC ) ends about the level of wave 4 ( it's also very common). The big correction is a zigzag to me and there is no way to go but up. It could be a wave X for another correction or a big move up. I don't know, but when the wave C is done, price should go up.
Bye.
P.S. The price is under a long term trendline right know...
So wave 2 retraces about 0.62 wave 1 like stated in some guideline and the big correction ( ABC ) ends about the level of wave 4 ( it's also very common). The big correction is a zigzag to me and there is no way to go but up. It could be a wave X for another correction or a big move up. I don't know, but when the wave C is done, price should go up.
Bye.
P.S. The price is under a long term trendline right know...