USDTRY UPDATE: Possible Triangle Completed

22 lug 2016

In our previous article about USDTRY we talked about the basic of a triangle correction pattern, talking about each leg and how many sub-waves each has, and were price will go after this complex correction is completed. That said as we see price recently broke above the wave B swing, out of this triangle pattern, which gives us an idea that wave IV could be over and more gains are already underway in black wave V. If that is the case then price may now continue even further to the upside, but with some sub-wave corrections that may take place, in our case we are talking about sub-wave 4, which can find its support around the upper corrective channel line.

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