Penguins Can’t Fly, But This Chart Might

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The move off the low looks like a clean, completed impulse wave sharp, decisive, and showing solid structure. After that, we had a double ZZ retracement. While it was a bit deeper than the textbook ideal, it still fits perfectly within the normal range you’d expect for a healthy correction. Now, we’re seeing another smaller-degree impulse forming from the .007 pivot, suggesting that the market is gaining momentum again.

Here’s what we’re watching closely:

The secondary impulse off .007 continues to build structure.

We want to see a pullback after impulse completion that ideally holds above the .011 region, showing the market respects previous support and AOIs.

The structure of this potential pullback needs to be corrective rather than impulsive to confirm bullish continuation.

A clean move above prior swing highs would confirm that the larger wave 3 or C is underway.

Overall, this chart is ticking the boxes for a potential larger upside push if the market respects key levels and continues to print impulsive structure higher.

Trade Safe!
Trade Clarity!