Primary Structure: Bullish Impulsive
Primary Trend: Bullish
Current Wave structure: Potential Pullback in Red wave "(2)".
Expectations:
We have witnessed five bullish h waves in red wave "(1)" which can be assumed as the first evidence of major trend reversal. According to the basic rules, a pullback minimum of three waves may be witnessed in red wave "(2)". This pullback can test the 61.8% Fibonacci retracement level. A strong rally is expected from the low of the red wave "(2)".
NOTE: Only wave degree is changed.
Recommendations: Wait for the pullback.
Previously :
