AVGO Bullish Impulse Wave Structure in Progress

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AVGO continues its macro advance with a clear 5-wave impulse structure unfolding. The current price action marks the completion of subwave (i) of wave ⑤, setting the stage for a corrective pullback into subwave (ii).

We expect this corrective leg to reach into the 38.2%–50% Fibonacci retracement zone of subwave (i), which will serve as a potential re-accumulation area before the next bullish expansion.

The strategy remains to monitor the development of wave (ii) closely, waiting for key price reaction around the identified retracement zone to build positions in anticipation of subwave (iii) of ⑤ typically the strongest and most impulsive move in Elliott Wave structure.

Targets are shared on the chart for clarity. Patience here is key as we await the right entry zone aligned with technical confluence.

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The setup in progress