What if it's making a bear flag for another impulse down?
junaidazad24
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Thanks Victor for sharing this chart.
@meepstone, Even I was initially of the same opinion but the correction in discussion is not for higher degree, we cannot ignore any candle tail. As Victor has mentioned the flag you mentioned is the micro x wave of the w-x-y correction of higher degree of sub minute x wave. The whole piece of correction is a w-x-y of degree minute. (The wave degree are based on my analysis can vary depending on what time frame you are looking at.)
Victor please correct me if I am wrong.
junaidazad24
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@junaidazad24, One clarification once it reaches 16.8k we have to see whether its a w-x-y or a w-x-y-x-z.