Monitoring blue Median Line for Validation to upside.

A clear corrective structure has completed within the red Median Line. Now using a tentative blue Modified Schiff to monitor potential new uptrend. This also has the potential to morph into a more complex corrective structure like a triangle, or combination, but the blue zone & blue Median Line will give guidance with important support on the lower parallel. If the terminology is new to you, I have educational modules to help define the terminology and application of Median Lines on tradingmotives.com

Kommentar:

Monitor lower parallel for support. Deeper correction likely if it fails.

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Potential for a more complex corrective structure to unfold. Standing aside for now.