Looks like we are completing 5 waves for this wave red wave ((c)) of B/2, which means reversal is around the corner.
If the price goes above that red neckline, it would indicate the bottom is in and we will then see price rally higher towards 0.73.
Notice also that we are at the 61.8% retracement level of previous blue wave A, which is often a reversal level.
Place stop at last low once you get in and you should be good to go.
If the price goes above that red neckline, it would indicate the bottom is in and we will then see price rally higher towards 0.73.
Notice also that we are at the 61.8% retracement level of previous blue wave A, which is often a reversal level.
Place stop at last low once you get in and you should be good to go.
Note
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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.