Trend Reversal Seen in WCT
1) WCT price action has completed 8 Elliott Wave (EW) pattern in downtrend
2)In completing the corrective wave "C",
a) the price action had stood above the Kumo cloud and
b) broke out above the upper band of Donchian channel.
These indications tell us there is a high chance of bearish trend reversal.
3) The point of C is higher than A which indicated a higher high. We shall wait upon retracement to complete to see a higher low formed to confirm trend reversal.
2)In completing the corrective wave "C",
a) the price action had stood above the Kumo cloud and
b) broke out above the upper band of Donchian channel.
These indications tell us there is a high chance of bearish trend reversal.
3) The point of C is higher than A which indicated a higher high. We shall wait upon retracement to complete to see a higher low formed to confirm trend reversal.
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