Likely wave iii is still in progress, lacking the local terminal thrust to the upside before a meaningful correction in the wave (iv).
Trade safe
Trade safe
Note
Just in case, a huge bearish scenario is still possible. Wave 1 -50%, and we may get an ending diagonal of the same size.. the idea in this post is to complete the local impulse only, in the option with a flat in wave 4
Note
Some arguments with the use of Bollinger bandsNote
on the chart above please note:- RSI 50 will definitely be a strong support
- Before the reversal (larger frame or a correction of the same degree) - RSI must draw a divergence. It will be done ONLY after the above point (RSI 50)
Note
Soon will go down in a larger correction, so far the count is ok
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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.