Tuesday, August 21, 2012

The sharp rise as wave C, a double zigzag

The descending-ascending triangle speculation is Right but in an inherent minor view.


Above picture,
Green wave A has been imposed, it has surely set target for wave C.
Wave A's is 144 pips.
Thus 1.618 times wave A equals 1.25285.
Or 2 times wave A equals 1.25810 area.

1.25285 is just below 38.2 % retracement, failure reaching this target indicates pressure for final 5th wave.

Green B is a triangle, I can see the rise after its wave e ended.

This rise indicates a zig-zag formation already opposite of supposed impulse !
It should be double zig-zag, I will portray the Last wave C of the second zigzag.

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