The expected strong impulsive decline during the final trading day of the previous week did not happen. Instead, the price bounced off the low and rose. This could be a continuation of the correction in the extending wave 3 of the downward impulse, or the price may try to surge higher. In case of strong growth, the current wave count will turn out to be incorrect, and the entire wave structure will need to be revised. Given this uncertainty, it’s best to pause and observe the development of events for a while without making any trading decisions. It’s possible that the current scenario will still be confirmed, and the price will head downward, forming a full downward impulsive move.
Investment idea: range.
Origin: FreshForex
