After the preceding C leg short trade to target the spike formed on the low.
Subsequent price action in the past 2 days has been sideways, but could be a Leading Diag wave 1 up.
So wave 2 pullback coming shortly on the 15 min chart here, maybe into 38.85 or .70.
I like the A-TriangleB-C preceding pattern into channel support as a recount from my previous interpretation.
Oscillators are behaving as if inside a triangle or Diagonal.
I put higher probability of an eventual breakout to the upside here to contradict a move down to 36.
The channel geometry from the 4 hour chart is evident at the Red oval.
The divergence and oscillation upward in RSI in this 15min timeframe.
The clear 5 wave C leg termination pattern into an anticipated (Z) leg down.
A milestone countable 7 bear waves ABCXABC on the 4 hour chart.
I think it's a good potential for a strong Bullish wave 3 coming up.
The larger 4 hour correction may have ended.
Subsequent price action in the past 2 days has been sideways, but could be a Leading Diag wave 1 up.
So wave 2 pullback coming shortly on the 15 min chart here, maybe into 38.85 or .70.
I like the A-TriangleB-C preceding pattern into channel support as a recount from my previous interpretation.
Oscillators are behaving as if inside a triangle or Diagonal.
I put higher probability of an eventual breakout to the upside here to contradict a move down to 36.
The channel geometry from the 4 hour chart is evident at the Red oval.
The divergence and oscillation upward in RSI in this 15min timeframe.
The clear 5 wave C leg termination pattern into an anticipated (Z) leg down.
A milestone countable 7 bear waves ABCXABC on the 4 hour chart.
I think it's a good potential for a strong Bullish wave 3 coming up.
The larger 4 hour correction may have ended.