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BABA Primary Impulse Could End the Cycle Pattern

Started by PocketOption, Sep 02, 2022, 05:54 am

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PocketOption

BABA Primary Impulse Could End the Cycle Pattern


BABA suggests the formation of a bearish corrective trend, which takes the form of a cycle triple zigzag w-x-y-x-z.


Currently the actionary wave y and a small intervening wave x, which has the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ, have ended.


Now the final actionary wave z is currently taking place. This takes the form of a primary standard zigzag Ⓐ-Ⓑ-Ⓒ, as shown in the chart.


We saw the completion of the primary wave Ⓐ in the form of an impulse (1)-(2)-(3)-(4)-(5). Also, the correction wave Ⓑ in the form of an intermediate double zigzag (W)-(X)-(Y) could come to an end. In the near future, stocks could continue to fall in the primary wave Ⓒ in the form of impulse (1)-(2)-(3)-(4)-(5) to 50.55.


At that level, primary impulse wave Ⓒ will be at 161.8% of impulse Ⓐ.


 



Another variant shows a situation in which the formation of a cycle intervening wave x continues.


The intervening wave x will likely take the form of a simple 3-wave zigzag Ⓐ-Ⓑ-Ⓒ of the primary degree.


Now the price is in the wave Ⓒ. The entire wave Ⓒ is similar to an ending diagonal of the intermediate degree. This will be confirmed when the final sub-wave (5) is formed in the form of a minor zigzag ABC, as shown in the chart.


The final of the ending diagonal should be likely near 150.14. At that level, cycle intervening wave x will be at 38.2% of actionary wave y.


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