SUMMARY
The below chart of Data (DTA/USD) displays an ABC (red) correction that is likely complete. The pattern is also a rounded price formation (white arrow). The impulse waves show that if the right wall of the pattern is to be built, it'll likley rise in an impulse. What else?
A rounded formation has three build stages. The first is the left wall and in this case the red B and C waves covered that. Then, there is the basin phase where price goes sideways for a while. As shown by the blue rectangle, it's likely that price is about to exit the basin phase in a wave 3. The right wall will also be covered by an impulse and since symmetry is important, the right wall height should equal the left, or come proximal to it. The MACD is also traversing within its own symmetrical triangle and should breakout to support the coming price run potential.
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