The last primary wave â¸ takes the form of an intermediate 5-wave impulse (1)-(2)-(3)-(4)-(5).
Perhaps the last intermediate wave (5) is currently under development. It is assumed that it will take the form of a minor impulse 1-2-3-4-5. For its full completion, a sub-wave 5 is needed. The growth in this wave may continue to 7.097.
At that level, sub-wave (5) will be at 100% of wave (3).
An alternative scenario shows that the construction of the entire cycle correction IV has already been fully completed. It took the form not of a simple zigzag, but of a double zigzag consisting of primary sub-waves â-â-â.
If this assumption is correct, then the market may begin to move in a downward direction, forming the final cycle wave V.
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Most likely, the wave V will have the form of a primary impulse, as shown in the chart. And it will finish its pattern near 6.572. At that level, sub-wave V will be at 50% of impulse III.