GLAXO - Hourly Analysis - 10-02-2024

Sarfaraz Ahmad
Feb 10, 2024

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave Structure: Potential pullback in blue wave "ii'.

Expectations: The recent rise from the lows is appealing and can counted in five bullish waves. This can be perceived as the first evidence of a major trend reversal. As per the rules, a pullback minimum of three waves may be expected. This pullback in three waves must approach the golden ratio.

Recommendation: wait for the pullback to complete.

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