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XAGUSD Intervening Wave (X) Pushes Prices Higher!

From orbex.com

XAGUSD seems to be forming a correction wave b of the cycle degree, which is a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of it have ended and now we see the construction of the final wave Ⓩ. Most likely, the wave Ⓩ will be an intermediate triple zigzag (W)-(X)-(Y)-(X)-(Z). It seems that the formation of the actionary intermediate wave (Y) has come to an end. This took the form of a double zigzag W-X-Y. It can be assumed that the wave (X) will end as a minor double zigzag W-X-Y near 21.169. At that level, it will be at 50% of sub-wave (Y).Alternatively, the bearish primary wave Ⓩ could end in the form of a ... (full story)

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  • Category: Technical Analysis