SUMMARY
IOTA placed five waves up as shown by circled white waves and the subsequent retracement has been lengthy, volatile and deep. The pattern is a symmetrical triangle labeled with abcde (red) and these waves seem quite complete.
The closeup shows the first round impulse as near complete with wave 5 still to be placed. Once complete, the impulse will be followed by a correction and then ideally, a second round whic will coincide with a higher degree of trend wave 3 would take place. The breakout is at its early stages and so let's see if it can remain decisive overnight.
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