Always to try to count new instruments is some risky, mostly because the lack of context which could lead you to wrong assumptions, but with this chart will take my chances.
Since September last year the price of this broker seems to get in to an impulsive wave which is very possible to reach prices arround 17.
I'm making here some logical assumptions in order to proyect the future advances of prices that will need (most probably) some adjusts following the real formations of the wave.
Based on the alternation rule, I think the wave (4) ended at the second bottom to make a flat vs the acutte (2) correction and not at the first one, and therefore the wave 5 still need to form it's 5th wave of ((3))
Then as usually happens, the price should retrace near the previous 4th and then i assume that this wave ((4)) will divide the wave at 50% so the next projection is the 17.13
All this are the most common behaviors for the waves but are not written on stone so we will have this as start point but nothing more.
Since September last year the price of this broker seems to get in to an impulsive wave which is very possible to reach prices arround 17.
I'm making here some logical assumptions in order to proyect the future advances of prices that will need (most probably) some adjusts following the real formations of the wave.
Based on the alternation rule, I think the wave (4) ended at the second bottom to make a flat vs the acutte (2) correction and not at the first one, and therefore the wave 5 still need to form it's 5th wave of ((3))
Then as usually happens, the price should retrace near the previous 4th and then i assume that this wave ((4)) will divide the wave at 50% so the next projection is the 17.13
All this are the most common behaviors for the waves but are not written on stone so we will have this as start point but nothing more.