Double Zigzag?

This is developing into a more complicated corrective structure. As you know we never know what the final outcome will be until the correction is complete but we can adjust our understanding of the structure as it develops.

What I see at the moment is a potential double zigzag.

I've been in this from the start of the impulse. On Friday I thought the correction was over and tightened my stop loss. Unfortunately the stop was hit in the Asian session and I'm out of the trade (with a nice profit none the less)

For now I'm staying out of this until it looks like the correction is nearing an end.

If you have any ideas on what this structure is your comments are welcome

I'll update my thoughts on this as the situation develops

Hope this helps
Steve

Kommentera:

Looks like A is not finished yet - if it comes lower adjust the bottom line on the correction - otherwise nothing else has changed