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Figure E1. Wave counting on the weekly chart. Variant 3-dz.
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In the framework of scenario 3-dz the supposed correction [X] may be presented in the form of downward zigzag A-B-C of (A) of [X]. If this is the case at the moment possible variants of the completion of corrective wave B of (A), given below, are of special interest.
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Figure E2. Wave counting on 480 min chart.
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The supposed wave B of (A) may be assuming the shape of narrow upward double or triple zigzag [w]-[x]-[y]-[x]-[z] of B. In this case the rise of price will continue in the borders of the trend channel and may reach the depth of 78%.
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Figure E3. Wave counting on 480 min chart. Possible alternate.
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If the price fixes under the lower border of the current trend channel we may speak either of the completion of wave B of (A) (it is marked in the chart with grey), or of the further development of wave B of (A) in the form of a horizontal construction (flat, double three or an extended horizontal correction).
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Figure E4. Wave counting on the weekly chart. Possible alternate.
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At the same time a variant in the framework of which wave [X] is completed already, isn’t ruled out. But its relatively small depth and duration don’t allow bringing this scenario to the forefront.
For more detailed wave counting on smaller time-frames and parameters of possible trading plans refer to daily reports.
Reference
Dmitry Voznuy
forDmitry@yahoo.com
September 28, 2008
When using any part of the article for publication or analytical materials reference to the author and Alpari is obligatory.
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