Article By RoboForex.com
In the previous post I was talking about possible reversal scenario for trend revesal at 1275 area.
On medium levels we can clearly see that reversal has occured a few pips higher than projected area 1275. Final leg [C] of e of (iv) of zigzag e of (iv) has probably started, it can possibly lead to completion of large horizontal triangle (iv) of [c].
On higher wave levels, price is probably completing large horizontal triangle (iv) of [c] of A, which can lead to decline below 1200 in a form of final wave (v) of [c] of A.
You have to remember that every wave analysis is highly subjective. Market can do whatever move at any time.
RoboForex Analytical Department
Article By RoboForex.com
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