this is wxy corrective wave structure. wave Y subdivided into abc, wave A has leading diagonal chart pattern which is followed by double zigzag making 61% retracement of wave A.
is this leading or ending diagonal ?
this will be confirmed by top and bottom of this chart pattern. if retrace more than 78% than it is ending diagonal and breakout of red resistance will confirm this was leading diagonal which will create aggressive bullish trend.
resistance red line
support blue line ,
fib support intrday support 61%, 78%, 50%
since diagonal made top at 61% projection of wave W which means this is leading diagonal and wave y has not finished yet.
wave wxy can be 135 impulsive wave. if this is 3rd wave beginning with leading diagonal than price will go much higher
long above : 1.22664
is this leading or ending diagonal ?
this will be confirmed by top and bottom of this chart pattern. if retrace more than 78% than it is ending diagonal and breakout of red resistance will confirm this was leading diagonal which will create aggressive bullish trend.
resistance red line
support blue line ,
fib support intrday support 61%, 78%, 50%
since diagonal made top at 61% projection of wave W which means this is leading diagonal and wave y has not finished yet.
wave wxy can be 135 impulsive wave. if this is 3rd wave beginning with leading diagonal than price will go much higher
long above : 1.22664
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