5 waves up from 1.2197 suggest that a larger bull trend has started. The decline from 1.2720 is deep, but wave rules require that wave 2 retrace less than 100% of wave 1. Thus, as long as price is above 1.2197, I favor the upside.
5 waves up from 1.2197 suggest that a larger bull trend has started. The decline from 1.2720 is deep, but wave rules require that wave 2 retrace less than 100% of wave 1. Thus, as long as price is above 1.2197, I favor the upside.