OCTOPUS - Hourly Analysis - 26-04-2024

Primary Structure: Bullish Impulsive.

Primary Trend: Bullish

Current Wave Structure:  Bullish Impulsive.

Expectations:  The rise from the low of blue wave "5" can be counted in five waves as black wave "1'. As per the rules, a pullback minimum in three waves is expected in black wave "2" which has approached the 78.6% Fibonacci retracement level. The reaction from the low is very aggressive as the price is stable above the upper line of the base channel. More gains are expected after a small correction in blue wave "iv".

Recommendations: Wait for the pullback to complete.

Previously :

Previously :

Previously :