hello
this is just an idea
price is forming an ending diagonal with divergence in MACD on weekly timeframe but why its important is because if we look at chart below which is monthly timeframe.
if my wave count is correct price is at exactly 2.618 projection of wave 1:3 and 2:3 which can be the end of wave 3:3 and an upcoming wave 4:3 correction wave
but the volume isn't high so you can take it as a good sign that i'm wrong
this is just an idea
price is forming an ending diagonal with divergence in MACD on weekly timeframe but why its important is because if we look at chart below which is monthly timeframe.
if my wave count is correct price is at exactly 2.618 projection of wave 1:3 and 2:3 which can be the end of wave 3:3 and an upcoming wave 4:3 correction wave
but the volume isn't high so you can take it as a good sign that i'm wrong
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.