2. 44.95 gives us a structure label of ":L3/L5" thereby completing the flat pattern
3. This uptrend now is wave-i of the impulsion after the Double Three
4. We expect this uptrend to not go beyond 49.55. This implies wave-i will range between 44.95 to 49.55.
5. We expect a correction of PXP to form wave-ii
6. This correction may go theoretically down to 99% of wave-i, but most likely, the correction will be at 61.8% of wave-i at about 41.44. Neo Wave retracement guide:
- 38.2% = 43.868
- 50.0% = 42.654
- 61.8% = 41.44
7. wave-ii is the very good place to enter this trade or to add to your position as wave-iii will be so much higher
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