BEL20 - reaching the end of counter trend rally
Updated
BEL20 is reaching the most probable target for wave 2 counter trend rally at 0.618 of retracement of wave 1. The wave count for wave C that will complete primary wave 2 is almost complete. The possible target is at 3,518 before the trend turns down in direction to new lows , but it does not need to arrive at this level to do so. For more confirmation, a move below 3199 would mean the odds are that the downturn is already occurring. FOLLOW SKYLINEPRO TO GET UPDATES.
Trade closed: target reached
The forecasted target was reached. Although it could go higher, it is wise to put a stop below 3,472 in case you continue in the trade.
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