Based on the 2-month Cash Data chart, it is quite clear that the diametric pattern is completing.
Considering that the diametric wave-(B) has taken a lot of complexity and time, it seems that the wave-(F) is not completed and has little complexity and time, so we considered two scenarios for the wave-(F):
Scenario 1
Considering that after the wave-(E) there was a rapid downward movement, the wave-(F) will become an irregular contracting triangle, then the wave-(G) will start and grow
Scenario 2
The wave-(F) can turn into a flat pattern with a strong wave-b. In this type of flat, usually the wave-c cannot retrace the entire wave-b, as a result, the wave-c of this type of flat pattern can turn into a terminal pattern, and then the diametric wave-(G) of a higher degree will start.
Considering that the diametric wave-(B) has taken a lot of complexity and time, it seems that the wave-(F) is not completed and has little complexity and time, so we considered two scenarios for the wave-(F):
Scenario 1
Considering that after the wave-(E) there was a rapid downward movement, the wave-(F) will become an irregular contracting triangle, then the wave-(G) will start and grow
Scenario 2
The wave-(F) can turn into a flat pattern with a strong wave-b. In this type of flat, usually the wave-c cannot retrace the entire wave-b, as a result, the wave-c of this type of flat pattern can turn into a terminal pattern, and then the diametric wave-(G) of a higher degree will start.
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Related publications
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.