Zooming out to the 3-day chart, I believe we have finished the black 5-wave cycle and we're now in a correction.
Even though the 50% pullback zone is about to be touched, it's a low probability that the correction will be so quick. Therefore, I'm considering this to be black A, and expect a sideways grind for the near future.
Even though the 50% pullback zone is about to be touched, it's a low probability that the correction will be so quick. Therefore, I'm considering this to be black A, and expect a sideways grind for the near future.
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