📈 Wave Structure Overview
• The chart shows a completed corrective phase, likely Wave A or 1, followed by a clear impulsive sequence: (1), (2), (3), (4), (5).
• Within that impulse, sub-waves 1–5 are well-defined, suggesting a strong Wave (3) extension — typically the most powerful leg in an Elliott sequence.
• The current price action around MYR 0.945 appears to be in the final stages of Wave (5), or possibly transitioning into a larger Wave 3 or C, depending on your primary count.
🛡️ Invalidation Zone
• RM 0.860 marks the Wave 1 level, which Wave 4 must not breach under standard Elliott Wave rules.
• A drop below RM 0.860 would invalidate the current impulsive count, suggesting that Wave (5) is either truncated or the structure is corrective rather than impulsive.
• This level serves as a critical risk management threshold for traders tracking the bullish scenario.
🔍 Interpretation
• The wave count suggests bullish continuation, especially if price holds above RM 0.860.
• The chart shows a completed corrective phase, likely Wave A or 1, followed by a clear impulsive sequence: (1), (2), (3), (4), (5).
• Within that impulse, sub-waves 1–5 are well-defined, suggesting a strong Wave (3) extension — typically the most powerful leg in an Elliott sequence.
• The current price action around MYR 0.945 appears to be in the final stages of Wave (5), or possibly transitioning into a larger Wave 3 or C, depending on your primary count.
🛡️ Invalidation Zone
• RM 0.860 marks the Wave 1 level, which Wave 4 must not breach under standard Elliott Wave rules.
• A drop below RM 0.860 would invalidate the current impulsive count, suggesting that Wave (5) is either truncated or the structure is corrective rather than impulsive.
• This level serves as a critical risk management threshold for traders tracking the bullish scenario.
🔍 Interpretation
• The wave count suggests bullish continuation, especially if price holds above RM 0.860.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.