We got a leading diagonal down followed buy current ABC correction.
We are now in wave C which is close to the 161.8% projection level of wave A.
A bit higher, we also have he 78.6% level, which is the last line of defense for bears,
if it breaks, there's a high chance bulls keep their momentum even longer.
Don't try to catch the top, that's foolish, best is to wait for a clear 5 waves drop.
If price grinds a bit higher in what seems to be an ending diagonal, that could give an even better R/R!
We are now in wave C which is close to the 161.8% projection level of wave A.
A bit higher, we also have he 78.6% level, which is the last line of defense for bears,
if it breaks, there's a high chance bulls keep their momentum even longer.
Don't try to catch the top, that's foolish, best is to wait for a clear 5 waves drop.
If price grinds a bit higher in what seems to be an ending diagonal, that could give an even better R/R!
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Note
Looks like it's become a bigger ending diagonal than expected, which means bigger drop following it ! Note
Price came perfectly down from the expected zone. A move below 8878 would indicate lower prices coming.
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Disclaimer
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Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
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.