this triangle represents a high probability area for a reversal.
why?
1-because we are now in Y wave and according to channeling technique, this zigzag should terminates in lower line of the channel.
2-using fib extension tool,the triangle is present in 1-123.6 % extension of wave W.
3-using fib retracement tool, .618 % retracement from previous impulse is present in the triangle.
FOR EDUCATIONAL PURPOSES ONLY.
why?
1-because we are now in Y wave and according to channeling technique, this zigzag should terminates in lower line of the channel.
2-using fib extension tool,the triangle is present in 1-123.6 % extension of wave W.
3-using fib retracement tool, .618 % retracement from previous impulse is present in the triangle.
FOR EDUCATIONAL PURPOSES ONLY.