We should now be in wave ((c)) of B, unfolding as an impulse higher.
Now in wave 4 of it.
Once it ends, we'll see one more push higher with first resistance at 1.703
and second and biggest one at 1.720 from where a big reversal should happen
towards blue wave C lower that could get us down to 1.575 ~ 1.558.
If for any reason price goes straight below 1.660, the count gets invalidated
and we will consider wave ((c)) as complete and look to sell right away.
Now in wave 4 of it.
Once it ends, we'll see one more push higher with first resistance at 1.703
and second and biggest one at 1.720 from where a big reversal should happen
towards blue wave C lower that could get us down to 1.575 ~ 1.558.
If for any reason price goes straight below 1.660, the count gets invalidated
and we will consider wave ((c)) as complete and look to sell right away.
Note
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Note
We got an impulsive wave lower which we can label as wave A, this means 5 waves up are complete and we should see a larger pullback Note
Price managed to go higher anyway and got in the resistance zone. A break below 1.6820 and outside the channel would be a good indication for further losses.
tradingview.com/chart/9EmDRJGh/
Note
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.
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.