After the market completed a series of five bullish motive waves, it experienced a sharp decline characterized by an ABC corrective pattern. The price retraced to the 61.8% Fibonacci level, subsequently forming a leading diagonal pattern in wave 1. Additionally, an inverted head and shoulders pattern emerged after sweeping a key daily swing low (SSL) liquidity level. These developments suggest a potential upward movement in a five-wave motive structure.
Market Minds Team (MMT)
Market Minds Team (MMT)
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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.