I believe we're about to finish Wave IV correction. We still need another leg down (E).
Usually Wave IV retraces to 0.382 fib.
However, as we look at the falling wedge structure it might go lower. (down to the wedge support)
Buy zone:
-RED
Target:
-GREEN ( 1:1 Wave 1 extension)
Usually Wave IV retraces to 0.382 fib.
However, as we look at the falling wedge structure it might go lower. (down to the wedge support)
Buy zone:
-RED
Target:
-GREEN ( 1:1 Wave 1 extension)
Note
We broke out of the ABCDE pattern.Buy orders on the first pullback to the previous resistance.
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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.