Most likely, the current wave [W], which is part of the current wave Z, has already been constructed. It has the shape of a double zigzag (W)-(X)-(Y). In the last section of the chart, we observe a decline, which may indicate the beginning of a corrective wave [X].
The connecting wave [X] will most likely take the form of a standard zigzag (A)-(B)-(C). The approximate structure of a potential zigzag is shown in the chart. There is a high probability that the entire wave [X] will be 50% of the current wave [W].
It is worth paying attention to important economic events in the United States. Today, investors are waiting for reports on non-farm payrolls and a second major report on crude oil.
Thus, you might consider opening a small short position in order to profit from a corrective move.
Trading recommendations: Sell 1.2601, Take profit 1.2464
