We got a nice sharp move up from 80 to 160, followed by a flat correction ((abc))
now we have a 5 waves move up (orange) and are currently in wave ii which usually retraces 50% - 60% of wave i.
If price goes below 110 consider this as a big ABC correction and expect price to fall further and make a new low.
now we have a 5 waves move up (orange) and are currently in wave ii which usually retraces 50% - 60% of wave i.
If price goes below 110 consider this as a big ABC correction and expect price to fall further and make a new low.
Note
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Related publications
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.