in a long-term downtrend on a weekly frame in a downward cycle, the final part of the triple zigzag, where the [A] wave appears to be the completed final diagonal in the (5) wave of the lower count, which gives prerequisites for growth to the upper line
long-term downward price channel in the wave of [B], where subsequently rebound and downward movement in the wave [C] of Z, of the triple zigzag
Note
the main scenario involves opening long positions from current price levels of 1.109 .. and possiblyabove where the stop loss is advisable to be located below the local low, namely 1.10645!
In the event that the price for the price mark 1.09636 leaves, the idea with the final diagonal is canceled!
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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.